118th Congress Finance and Financial Sector
S. 1155: Federal Reserve Accountability Act of 2023
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Kevin Cramer R-NDOriginal
- Ted Cruz R-TXOriginal
- Cynthia Lummis R-WYOriginal
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Other bills by Thom Tillis
History
- Introduced in the Senate by Thom Tillis.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.