US Congress Senate Bill 1018 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on May 22 2013 - 25% progression, died in committee
Action: 2013-05-22 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Federal Reserve Independence Act - Amends the Federal Reserve Act regarding class A membership on the board of directors of a Federal Reserve Bank to require the Board of Governors of the Federal Reserve System (Federal Reserve Board) to designate members from among persons who are not employed in any capacity by a stockholding bank. Requires the Federal Reserve Board to designate the class B members of such board of directors (class B members represent the public). Prohibits employees of any Federal Reserve Board-regulated entity from serving on the board of directors of any Reserve Bank. Prohibits any employee of the Federal Reserve System or any board member of a Reserve Bank from owning stock or investing in any company regulated by the Federal Reserve Board. Directs the Comptroller General to report annually to Congress to ensure implementation of this Act.

Federal Reserve Independence Act

Sen. Bernard Sanders [I-VT]

Sen. Mark Begich [D-AK]

Sen. Barbara Boxer [D-CA]

Date	Chamber	Action
2013-05-22	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB2100 (Same As) 2013-05-22 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/1018/all-info
Text	https://www.congress.gov/113/bills/s1018/BILLS-113s1018is.pdf