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  <bill>
    <number>957</number>
    <updateDate>2025-05-27T14:15:48Z</updateDate>
    <updateDateIncludingText>2025-05-27T14:15:48Z</updateDateIncludingText>
    <originChamber>Senate</originChamber>
    <originChamberCode>S</originChamberCode>
    <type>S</type>
    <introducedDate>2023-03-23</introducedDate>
    <congress>118</congress>
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        <systemCode>ssbk00</systemCode>
        <name>Banking, Housing, and Urban Affairs Committee</name>
        <chamber>Senate</chamber>
        <type>Standing</type>
        <activities>
          <item>
            <name>Referred To</name>
            <date>2023-03-23T15:34:31Z</date>
          </item>
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    <actions>
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        <actionDate>2023-03-23</actionDate>
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            <systemCode>ssbk00</systemCode>
            <name>Banking, Housing, and Urban Affairs Committee</name>
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        <sourceSystem>
          <name>Senate</name>
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        <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</text>
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      <item>
        <actionDate>2023-03-23</actionDate>
        <text>Introduced in Senate</text>
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        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
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    <sponsors>
      <item>
        <bioguideId>S000033</bioguideId>
        <fullName>Sen. Sanders, Bernard [I-VT]</fullName>
        <firstName>Bernard</firstName>
        <lastName>Sanders</lastName>
        <party>I</party>
        <state>VT</state>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <policyArea>
      <name>Finance and Financial Sector</name>
    </policyArea>
    <subjects>
      <legislativeSubjects/>
      <policyArea>
        <name>Finance and Financial Sector</name>
        <updateDate>2023-04-11T15:45:24Z</updateDate>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2023-03-23</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2023-09-20T13:13:32Z</updateDate>
        <cdata>
          <text>&lt;p&gt;&lt;b&gt;Federal Reserve Independence Act &lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill prohibits an employee of a bank holding company or other entity regulated by the Board of Governors of the Federal Reserve System from serving on the board of a Federal Reserve bank. Additionally, employees of the Federal Reserve System and board members of a Federal Reserve bank are prohibited from investing in companies regulated by the board. &lt;/p&gt;</text>
        </cdata>
      </summary>
    </summaries>
    <title>Federal Reserve Independence Act</title>
    <titles>
      <item>
        <titleType>Display Title</titleType>
        <titleTypeCode>45</titleTypeCode>
        <title>Federal Reserve Independence Act</title>
        <updateDate>2024-07-24T15:23:12Z</updateDate>
      </item>
      <item>
        <titleType>Short Title(s) as Introduced</titleType>
        <titleTypeCode>101</titleTypeCode>
        <title>Federal Reserve Independence Act</title>
        <updateDate>2024-05-24T13:41:30Z</updateDate>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <titleTypeCode>6</titleTypeCode>
        <title>A bill to amend the Federal Reserve Act to restrict conflicts of interest on the boards of directors of Federal reserve banks, and for other purposes.</title>
        <updateDate>2023-04-08T03:28:50Z</updateDate>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
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    </titles>
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        <type>Introduced in Senate</type>
        <date>2023-03-23T04:00:00Z</date>
        <formats>
          <item>
            <url>https://www.govinfo.gov/content/pkg/BILLS-118s957is/xml/BILLS-118s957is.xml</url>
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        </formats>
      </item>
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    <latestAction>
      <actionDate>2023-03-23</actionDate>
      <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</text>
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    <dc:language>EN</dc:language>
    <dc:rights>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.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>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.</dc:description>
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