[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 887 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                 S. 887

To amend the Federal Reserve Act to prohibit the Federal reserve banks 
 from offering certain products or services directly to an individual, 
                        and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 21, 2023

  Mr. Cruz (for himself, Mr. Braun, and Mr. Grassley) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Reserve Act to prohibit the Federal reserve banks 
 from offering certain products or services directly to an individual, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PROHIBITION ON FEDERAL RESERVE BANKS RELATING TO CERTAIN 
              PRODUCTS OR SERVICES FOR INDIVIDUALS.

    Section 13 of the Federal Reserve Act is amended by adding after 
the 14th undesignated paragraph (12 U.S.C. 347d) the following:
            ``No Federal reserve bank may offer products or services 
        directly to an individual, maintain an account on behalf of an 
        individual, or issue a central bank digital currency directly 
        to an individual.''.
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