Federal Reserve Independence Act

Senate Bill 957 - Federal Reserve Independence Act: Overview, Status, and Impact

Hozzl · 2023-12-15T16:06:48Z

Explore the details of Senate Bill 957 Federal Reserve Independence Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

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

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.