A bill to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, and for other purposes.

12/15/2023, 4:06 PM

This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual.

Congress
118
Number
S - 887
Introduced on
2023-03-21
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

3/21/2023
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual.

Alternative Names
Official Title as IntroducedA bill to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, and for other purposes.
Policy Areas
Finance and Financial Sector

Comments

Related

Bill Update Alert:  CBDC Anti-Surveillance State Act

Recent Activity

Latest Summary5/19/2023

This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual.

Latest Action3/21/2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.