3.0.0 130 2022-11-15T16:33:14Z 2022-11-15T16:33:14Z House H HR 2013-01-03 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. KAPTUR:H.R. 130.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18[Page H37]]]> hsba00 Financial Services Committee House Standing Referred to 2013-01-03T16:09:15Z 2013-01-03 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-01-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-01-03 Introduced in House IntroReferral 1000 9 Library of Congress K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 N J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2013-02-25 False Finance and Financial Sector Banking and financial institutions regulation Congressional oversight Congressional-executive branch relations Federal Reserve System Federal officials Finance and Financial Sector 00 2013-01-03 Introduced in House 2013-01-30T19:26:27Z Democratizing the Federal Reserve System Act of 2013 - Amends the Federal Reserve Act to reduce from 14 years to 7 years the term of office of the members of the Board of Governors of the Federal Reserve System.

Increases from two years to four years the post-service restriction which renders Board members ineligible to hold any office, position, or employment in any member bank.

Revises the terms for ongoing service on the Board with respect to its Chairman and Vice Chairman.

Requires the Speaker and the minority leader of the House of Representatives, the majority leader and minority leader of the Senate, and specified committee chairpersons and ranking members to create jointly a list of five candidates in rank order to present to the President for consideration for a Board vacancy if the President has not made a nomination to fill it within a specified time period.

Requires the President, no later than 30 days after the transmittal of such list, to nominate a person to fill the vacancy, whether from such list or another person.

Increases the membership of the Federal Open Market Committee from five to six members. Revises the distribution of Federal Open Market Committee membership.

]]> Democratizing the Federal Reserve System Act of 2013 Display Title Democratizing the Federal Reserve System Act of 2013 Short Titles as Introduced Democratizing the Federal Reserve System Act of 2013 Official Title as Introduced To amend the Federal Reserve Act to alter the terms and conditions applicable to members of the Board of Governors of the Federal Reserve System, and for other purposes. Introduced in House 2013-01-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr130ih/xml/BILLS-113hr130ih.xml 2013-01-03 Referred to the House Committee on Financial Services. 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.