S. 957 · 118th Congress
Federal Reserve Independence Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
I
SandersSponsorNo cosponsors.
This bill prohibits an employee of a bank holding company or other entity regulated by the Board of Governors of the Federal Reserve System from serving on the board of a Federal Reserve bank. Additionally, employees of the Federal Reserve System and board members of a Federal Reserve bank are prohibited from investing in companies regulated by the board.
What it does: CRS summary · Introduced in Senate · Mar 23, 2023
Federal Reserve Independence Act
This bill prohibits an employee of a bank holding company or other entity regulated by the Board of Governors of the Federal Reserve System from serving on the board of a Federal Reserve bank. Additionally, employees of the Federal Reserve System and board members of a Federal Reserve bank are prohibited from investing in companies regulated by the board.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Federal Reserve Independence Act
Latest action (Mar 23, 2023): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Mar 23, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.