3.0.0 1663 2025-01-14T18:20:21Z 2025-01-14T18:20:21Z Senate S S 2023-05-17 118 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred To 2023-05-17T21:26:25Z 2023-05-17 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2023-05-17 Introduced in Senate IntroReferral 10000 9 Library of Congress W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. N S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL 2023-05-17 True Finance and Financial Sector Finance and Financial Sector 2023-06-05T14:00:32Z

00 2023-05-17 Introduced in Senate 2024-02-12T19:47:12Z <p><b>Strengthening Federal Reserve System Accountability Act of 2023 </b></p> <p> This bill revises director qualifications and elections for the boards of federal reserve banks and makes other changes to transparency and ethics requirements. (There are 12 federal reserve banks each overseen by a 9-member board of directors. Each board is comprised of 3 directors from 3 statutorily defined classes: A, B, and C.) </p> <p>The bill limits the eligibility for Class A directors to those who represent banks with less than $50 billion in assets. Further, Class B directors must be selected by Board of Governors of the Federal Reserve System, rather than by the banks as under current law. Individuals who served as bank executives, directors, or employees in the preceding five years are prohibited from serving as Class B directors. No director is allowed to serve more than 2 full terms. The bill requires the board to publish specified details regarding director selection and candidacy. </p> <p>The bill also prohibits bank directors from participating in certain bank supervision activities, including the selection of supervisory bank officers.</p> <p>Finally, the bill requires directors, presidents, and vice presidents to comply with specified ethics rules regarding investment and trading activity. </p>

Display Title 45 2024-07-24T15:22:04Z Short Title(s) as Introduced 101 2024-05-24T13:39:46Z Introduced in Senate IS Official Title as Introduced 6 2024-02-14T09:08:26Z Introduced in Senate IS Introduced in Senate 2023-05-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s1663is/xml/BILLS-118s1663is.xml 2023-05-17 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.