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Federal Reserve Accountability Act of 2023

USA118th CongressS-1155| Senate 
| Updated: 3/30/2023
Thomas Tillis

Thomas Tillis

Republican Senator

North Carolina

Cosponsors (3)
Cynthia M. Lummis (Republican)Ted Cruz (Republican)Kevin Cramer (Republican)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Federal Reserve Accountability Act of 2023 This bill changes the appointment of certain officials to the of Board of Governors of the Federal Reserve System and makes other changes to the operation of the board and Federal Reserve banks. Specifically, the bill requires the President to appoint a general counsel for the board with the advice and consent of the Senate; requires the President, rather than each bank's board of directors, to appoint presidents of Federal Reserve banks; reduces the number of Federal Reserve districts from 12 to 5; allows the President to appoint two members to the board from any one Federal Reserve district; and prohibits the use of any board or Federal Reserve bank funds for lobbying activities.
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Timeline

Bill from Previous Congress

S 117-5341
Federal Reserve Accountability Act of 2022
Mar 30, 2023
Introduced in Senate
Mar 30, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 117-5341
    Federal Reserve Accountability Act of 2022


  • March 30, 2023
    Introduced in Senate


  • March 30, 2023
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Federal Reserve Accountability Act of 2023

USA118th CongressS-1155| Senate 
| Updated: 3/30/2023
Federal Reserve Accountability Act of 2023 This bill changes the appointment of certain officials to the of Board of Governors of the Federal Reserve System and makes other changes to the operation of the board and Federal Reserve banks. Specifically, the bill requires the President to appoint a general counsel for the board with the advice and consent of the Senate; requires the President, rather than each bank's board of directors, to appoint presidents of Federal Reserve banks; reduces the number of Federal Reserve districts from 12 to 5; allows the President to appoint two members to the board from any one Federal Reserve district; and prohibits the use of any board or Federal Reserve bank funds for lobbying activities.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 117-5341
Federal Reserve Accountability Act of 2022
Mar 30, 2023
Introduced in Senate
Mar 30, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 117-5341
    Federal Reserve Accountability Act of 2022


  • March 30, 2023
    Introduced in Senate


  • March 30, 2023
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Thomas Tillis

Thomas Tillis

Republican Senator

North Carolina

Cosponsors (3)
Cynthia M. Lummis (Republican)Ted Cruz (Republican)Kevin Cramer (Republican)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted