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Federal Reserve Independence Act

12/15/2023, 4:06 PM

Congressional Summary of S 957

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.

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Current Status of Bill S 957

Bill S 957 is currently in the status of Bill Introduced since March 23, 2023. Bill S 957 was introduced during Congress 118 and was introduced to the Senate on March 23, 2023.  Bill S 957's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 23, 2023

Bipartisan Support of Bill S 957

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
0
Unaffiliated Sponsors
1
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 957

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 957

Federal Reserve Independence Act
Federal Reserve Independence Act
A bill to amend the Federal Reserve Act to restrict conflicts of interest on the boards of directors of Federal reserve banks, and for other purposes.

Comments

Sponsors and Cosponsors of S 957

Bernard Sanders
Bernard Sanders
VermontIndependent

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