S 957 · 118th Congress · Finance and Financial Sector

Federal Reserve Independence Act

Introduced 2023-03-23· Sponsored by Sen. Sanders, Bernard [I-VT]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2023-03-23)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only