3.0.0 3219 2019-02-20T23:33:47Z 2019-02-24T01:48:12Z Senate S S 2012-05-22 112 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2012-05-22T21:23:41Z Federal Reserve Independence Act 112 6023 HR 2012-10-01 Referred to the Subcommittee on Domestic Monetary Policy and Technology. Identical bill CRS 2012-05-22 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2012-05-22 Introduced in Senate IntroReferral 10000 9 Library of Congress S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT N B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2012-05-22 True B001265 Sen. Begich, Mark [D-AK] Mark Begich D AK 2012-05-22 True Finance and Financial Sector Banking and financial institutions regulation Congressional oversight Executive agency funding and structure Federal Reserve System Finance and Financial Sector 00 2012-05-22 Introduced in Senate 2012-08-17T17:23:34Z 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 Short Titles as Introduced Federal Reserve Independence Act Display Title Federal Reserve Independence Act Official Title as Introduced A bill to restrict conflicts of interest on the boards of directors of Federal reserve banks, and for other purposes. Introduced in Senate 2012-05-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3219is/xml/BILLS-112s3219is.xml 2012-05-22 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.