PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · Mar 30, 2023
Federal Reserve Accountability Act of 2023
This bill changes the appointment of certain officials to the of Board of Governors of the Federal Reserve System and makes other changes to the operation of the board and Federal Reserve banks.
Specifically, the bill
requires the President to appoint a general counsel for the board with the advice and consent of the Senate;
requires the President, rather than each bank's board of directors, to appoint presidents of Federal Reserve banks;
reduces the number of Federal Reserve districts from 12 to 5;
allows the President to appoint two members to the board from any one Federal Reserve district; and
prohibits the use of any board or Federal Reserve bank funds for lobbying activities.
People & committees
Sen. Tillis, Thomas [R-NC] · R–NC
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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