FEDERAL RESERVE SYSTEM

Amendments

Financial services and general Government: making appropriations (H.R. 4664), H5582, H5583, H5584, H5585, H5586, H5587, H5588, H5590, H5591, H5593, H5594, H5595, H5597, H5599, H5600, H5601, H5602, H5603, H5604, H5605, H5606, H5615, H5616, H5617, H5618, H5619, H5620, H5621, H5622, H5623, H5624, H5625, H5626, H5627, H5628, H5629, H5630, H5631, H5632, H5633, H5634, H5635, H5636, H5637, H5638, H5639, H5640, H5641, H5642 [8NO], H5657, H5658, H5659, H5660 [9NO]

——— making appropriations (H.R. 4664), consideration (H. Res. 847), H5489 [7NO]

Articles and editorials

How Much Have Record Corporate Profits Contributed to Recent Inflation?, H5952–H5954 [29NO]

What Should the White House Do To Combat Inflation? Experts Weighed in With 12 Ideas, H926–H928 [28FE]

When Money Printers Can No Longer Print Money, H4531 [26SE]

Bills and resolutions

Board of Governors: ensure that at least one member has demonstrated primary experience in supporting or protecting rights of workers (see S. 496), S456 [16FE] (see H.R. 3341), H2346 [15MY]

Children and youth: establish youth savings match grant program for students in grades 9 through 12 (see S. 2022), S2123 [15JN]

China: direct financial regulators to exclude representatives of China from certain banking organizations if President notifies Congress of any threats to economic system of Taiwan or U.S. (see H.R. 803), H678 [2FE]

Climate: require financial firms to establish plans to reduce investing in financed greenhouse gas emissions to protect financial stability (see S. 1138), S1090 [30MR] (see H.R. 2443), H1692 [30MR]

Congress: require certain entities submit information on Basel Committee on Bank Supervision (see S. 2655), S3755 [27JY]

Consumer Financial Protection Bureau: change into independent agency named Consumer Financial Empowerment Agency and bring into regular appropriations process (see H.R. 1382), H1147 [7MR]

——— clarify funding (see S. 3095), S5110 [19OC] (see H.R. 5993), H5032 [19OC]

——— eliminate (see S. 1363), S1418 [27AP] (see H.R. 2937), H2083 [27AP]

——— establish grant program to establish centers of excellence in financial literacy education for young adults and families (see H.R. 2821), H1945 [25AP]

——— establish Senate confirmed Inspector General (see H.R. 1411), H1149 [7MR]

——— impose hiring freeze and other limitations (see H.R. 3527), H2455 [18MY]

——— issue rule before deleting or modifying certain small business loan data (see H.R. 1810), H1464 [27MR]

——— provide whistleblower incentives and protections (see S. 1124), S1090 [30MR] (see H.R. 2465), H1698 [3AP] (see H.R. 2490), H1707 [6AP]

——— reestablish Office for Students and Young Consumers and establish position of Assistant Director and Student Loan Borrower Advocate (see H.R. 6692), H6813 [11DE]

——— reform (see H.R. 2798), H1914 [24AP]

——— replace director with 5-member commission (see H.R. 1410), H1149 [7MR]

——— set rate of pay for employees in accordance with General Schedule (see S. 2925), S4678 [26SE]

——— update focus on competition and consumer choice and establish Office of Economic Analysis (see H.R. 2489), H1707 [6AP]

Credit cards: require Board of Governors to prescribe regulations relative to network competition in credit card transactions (see S. 1838), S2005 [7JN] (see H.R. 3881), H2777 [7JN]

Cryptocurrency: clarify applicability of sanctions and anti-money laundering compliance obligations to U.S. persons in decentralized finance technology sector and virtual currency kiosk operators (see S. 2355), S2984 [18JY]

Currency: support role of U.S. dollar as primary global reserve currency (see H.R. 556), H427 [26JA]

Dept. of the Treasury: define dollar as fixed weight of gold (see H.R. 2435), H1691 [30MR]

——— improve transparency of Financial Stability Oversight Council and improve systemically important financial institution (SIFI) designation process (see H.R. 3812), H2740 [5JN]

——— redesign Federal reserve notes to include likeness of Harriet Tubman (see S. 568), S532 [28FE] (see H.R. 4010), H2807 [12JN]

Dept. of the Treasury and FRS: prohibit from issuing central bank digital currency (see H.R. 3402), H2423 [17MY]

Economy: abandon Modern Monetary Theory and recognize that implementation would lead to higher deficits and higher inflation (see S. Res. 89), S569 [1MR]

——— ensure FRS Board of Governors and Federal Open Market Committee focus solely on stabilizing prices (see H.R. 6117), H5180 [30OC]

——— require Board of Governors and Federal Open Market Committee to consider inflation, employment, and financial stability when setting interest rates (see H.R. 1664), H1293 [17MR]

——— require Chairman of the Board to address interest rate risk when appearing at semi-annual hearings before Congress (see H.R. 5602), H4437 [20SE]

Education: require certain protections for student loan borrowers (see S. 3404), S5750 [5DE]

FDIC: revise Board of Directors membership requirements (see H.R. 1409), H1148 [7MR]

Federal Financial Institutions Examination Council: establish Portal for Appraisal Credentialing and Appraisal Management Companies (AMC) Registration information (see S. 2692), S3756 [27JY] (see H.R. 2771), H1908 [20AP]

Federal reserve banks: limit total assets (see S. 2410), S3458 [20JY]

Financial institutions: convert insured State banks with assets above certain amount into national banks and transfer oversight from FRS or FDIC to Office of the Comptroller of the Currency (see S. 2497), S3619 [26JY]

——— enhance reporting requirements for Federal banking regulators and remove designation of FRS Board of Governors Vice Chairman for Supervision (see H.R. 4823), H3895 [24JY]

——— establish and maintain permanent emergency lending program to provide member banks and other depository institutions with short-term liquidity against long-term assets (see H.R. 1662), H1293 [17MR]

——— establish permanent Bank Term Funding Program to provide member banks and other depository institutions with short-term liquidity against long-term assets (see H.R. 3242), H2308 [11MY]

——— establish Public Bank Grant program and provide for Federal charter of State and local public banks (see H.R. 6775), H6941 [13DE]

——— limit banker representation on boards of directors of Federal Reserve banks (see S. 1663), S1704 [17MY]

——— limit purchases of Federal reserve banks and require Generally Accepted Accounting Principles standards (see S. 2409), S3458 [20JY]

——— place further congressional oversight and reporting on quantitative easing or tightening programs or emergency lending programs and require congressional approval to extend such programs (see S. 2411), S3458 [20JY]

——— prohibit Federal reserve banks from offering certain products or services directly to individuals (see S. 887), S859 [21MR]

——— prohibit Federal reserve banks from offering certain products or services directly to individuals and prohibit use of central bank digital currency for monetary policy (see H.R. 1122), H864 [21FE] (see H.R. 5403), H4262 [12SE]

——— prohibit large banking institution from paying discretionary bonuses when subject to Matter Requiring Immediate Attention and hasn’t provided remediation plan to appropriate Federal banking agency (see H.R. 4207), H2989 [20JN]

——— prohibit use of certain concentration limit exceptions applicable to mergers involving failed banks if there are other qualifying bids (see H.R. 3914), H2778 [7JN]

——— provide greater transparency relative to financial regulatory agencies (see S. 1160), S1091 [30MR]

——— raise consolidated assets threshold under small bank holding company policy statement (see H.R. 4346), H3141 [23JN]

——— require Federal banking regulators jointly conduct study and develop strategic plan to address challenges faced by proposed depository institutions seeking de novo depository institution charters (see S. 2252), S2359 [12JY] (see H.R. 1533), H1278 [10MR]

——— require implementation of real-time payments system by financial institutions to ensure immediate availability of deposited funds (see S. 2348), S2984 [18JY] (see H.R. 5039), H4140 [27JY]

——— require regulatory agencies to take risk profiles and business models of institutions into account when taking regulatory actions (see S. 362), S312 [9FE]

——— restrict conflicts of interest on boards of directors of Federal reserve banks (see S. 957), S933 [23MR]

Financial services and general Government: making appropriations (see S. 2309), S2460 [13JY] (see H.R. 4664), H3639 [17JY]

——— making appropriations (H.R. 4664), consideration (see H. Res. 847), H5465 [6NO]

Financial Stability Act: require stress tests performed pursuant to such Act to evaluate for increase and decrease of interest rates (see H.R. 3992), H2788 [9JN]

Government regulations: establish experience requirements for Federal Reserve Vice Chair for Supervision (see H.R. 3558), H2498 [22MY]

——— provide greater accountability (see S. 1155), S1091 [30MR]

——— remove designation of one of Board of Governors members as Vice Chairman for Supervision (see H.R. 4630), H3574 [13JY]

——— require audit of Board of Governors and Federal Reserve banks (see H.R. 24), H97 [9JA]

——— require Federal banking regulators report on implementation of recommendations from Financial Stability Oversight Council Chairperson and Executive orders (see H.R. 4737), H3857 [19JY]

——— require legislation for certain activities related to issuance of central bank digital currency (see H.R. 3712), H2637 [25MY]

Inspector General: establish presidentially-appointed and Senate-confirmed Inspector General of Board of Governors and Consumer Financial Protection Bureau (see S. 915), S909 [22MR]

Investments: permit certain non-designated clearinghouses access to deposit account at Federal reserve bank and apply certain risk management standards to such clearinghouses receiving certain Federal reserve bank services (see H.R. 5234), H4191 [18AU]

Minorities: use existing authorities to close racial employment and wage gaps and report on how gaps change over time (see S. 2257), S2359 [12JY] (see H.R. 4194), H2958 [15JN]

Money: express that Board of Governors and Federal Open Market Committee should not be permitted to develop, create, or implement central bank digital currency, or use any such tool to implement monetary policy (see H. Res. 629), H4142 [27JY]

——— prohibit issuance of central bank digital currency, prohibit Federal reserve banks from offering certain products or services, and prohibit holding or owning central bank digital currencies of any country (see H.R. 5032), H4140 [27JY]

Public Company Accounting Oversight Board: promote transparency by making disciplinary proceedings open to public (see S. 865), S826 [16MR]

Task Force on Artificial Intelligence in Financial Services Sector: establish (see H.R. 5808), H4854 [28SE]

Technology: limit ability of Federal Reserve banks to issue central bank digital currency (see S. 967), S933 [23MR]

——— provide for regulation of digital assets (see H.R. 5745), H4712 [27SE]

Transparency: enhance (see H.R. 3467), H2452 [18MY]

Cloture motions

Cook, Lisa DeNell: nomination to FRS Board of Governors, S3738 [27JY], S4218 [6SE]

Jefferson, Philip N.: nomination to be FRS Board of Governors Vice Chairman, S3738 [27JY], S3879 [5SE]

Kugler, Adriana D.: nomination to FRS Board of Governors, S3738 [27JY], S4224 [6SE]

Letters

Financial services and general Government appropriations: Melody Brannon and Craig Albee, Defender Services Advisory Group, H5486 [7NO]

Supreme Court hearing of arguments in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd., relative to funding mechanism: Rohit Chopra, Consumer Financial Protection Bureau, S4913 [3OC]

Remarks in House

Consumer Financial Protection Bureau: change into independent agency named Consumer Financial Empowerment Agency and bring into regular appropriations process, H5555–H5557 [8NO]

——— establish grant program to establish centers of excellence in financial literacy education for young adults and families (H.R. 2821), E349 [25AP]

——— impose hiring freeze and other limitations (H.R. 3527), H2441 [18MY]

Dept. of the Treasury: define dollar as fixed weight of gold, H1268 [10MR]

Dept. of the Treasury and FRS: prohibit from issuing central bank digital currency, H5587, H5588 [8NO]

——— prohibit from issuing central bank digital currency (H.R. 3402), H2383 [17MY]

Economy: address growing inflation, H258 [24JA], H924 [28FE], H1241–H1245 [9MR], H1402–H1405 [23MR], H2588 [24MY], H3219 [12JY], H5726 [13NO], H5951, H5952, H5954 [29NO], H5999, H6032 [30NO], H6156, H6201 [6DE], H6875 [13DE], H6963 [14DE]

——— ensure FRS Board of Governors and Federal Open Market Committee focus solely on stabilizing prices (H.R. 6117), H5727 [13NO]

Financial institutions: establish Public Bank Grant program and provide for Federal charter of State and local public banks (H.R. 6775), H6865 [13DE]

Financial services and general Government: making appropriations (H.R. 4664), H5550–H5648 [8NO], H5657–H5663 [9NO], E1086, E1090 [13NO]

——— making appropriations (H.R. 4664), consideration (H. Res. 847), H5482–H5490 [7NO]

——— prohibit funding to consider social cost of greenhouse gases in agency budgets, procurement processes, or environmental reviews, H5628, H5629 [8NO]

——— prohibit funding to finalize any rule or regulation that has or is likely to have certain effects on economy, H5602, H5620, H5621 [8NO]

——— prohibit funding to produce documents containing term ‘‘latinx’’ or term ‘‘latin-x’’, H5640 [8NO]

——— prohibit funding to provide financial assistance to sanctuary cities, H5599, H5600 [8NO]

Government regulations: require legislation for certain activities related to issuance of central bank digital currency (H.R. 3712), H3876 [20JY]

Supreme Court: hearing of arguments in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd., relative to funding mechanism, H5555–H5557 [8NO]

Remarks in Senate

Biden, President: evaluation of administration relative to economy, S2332 [12JY], S2446 [13JY]

——— evaluation of administration relative to political nominees, S372 [14FE]

Board of Governors: ensure that at least one member has demonstrated primary experience in supporting or protecting rights of workers (S. 496), S459 [16FE]

Cook, Lisa DeNell: confirmation to FRS Board of Governors, S4244 [7SE]

——— nomination to FRS Board of Governors, S3738 [27JY], S3879 [5SE], S4218 [6SE]

Credit cards: require Board of Governors to prescribe regulations relative to network competition in credit card transactions (S. 1838), S4428–S4430 [13SE], S5843 [7DE]

Cryptocurrency: clarify applicability of sanctions and anti-money laundering compliance obligations to U.S. persons in decentralized finance technology sector and virtual currency kiosk operators (S. 2355), S2990 [18JY]

Economy: address growing inflation, S161 [31JA], S186–S188 [1FE], S250 [7FE], S344 [13FE], S407 [15FE], S493 [27FE], S510 [28FE], S549 [1MR], S782 [15MR], S1355 [26AP], S2137 [20JN], S2332 [12JY], S2446 [13JY], S3561 [26JY], S4422 [13SE], S4691, S4695 [27SE], S5389 [7NO], S5483 [14NO], S5518 [15NO]

Financial institutions: appoint independent review board to investigate failure of Silicon Valley Bank and response of Federal Reserve Bank, S3575 [26JY], S4437 [13SE]

Government regulations: require audit of Board of Governors and Federal Reserve banks, S5275 [1NO]

Jefferson, Philip N.: confirmation as FRS Board of Governors Vice Chairman, S4244 [7SE]

——— nomination to be FRS Board of Governors Vice Chairman, S3738 [27JY], S3869, S3879 [5SE], S4211 [6SE]

Kugler, Adriana D.: nomination to FRS Board of Governors, S3738 [27JY], S3879 [5SE], S4225 [6SE], S4244, S4245, S4253 [7SE]

Public Company Accounting Oversight Board: promote transparency by making disciplinary proceedings open to public (S. 865), S832 [16MR]

Supreme Court: hearing of arguments in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd., relative to funding mechanism, S4912–S4914 [3OC]

Reports filed

American Financial Institution Regulatory Sovereignty and Transparency (Amercian FIRST) Act: Committee on Financial Services (House) (H.R. 4823) (H. Rept. 118–325), H6996 [19DE]

CFPB Transparency and Accountability Reform Act: Committee on Financial Services (House) (H.R. 2798) (H. Rept. 118–297), H6109 [4DE]

Consideration of H.R. 4664, Financial Services and General Government Appropriations: Committee on Rules (House) (H. Res. 847) (H. Rept. 118–269), H5465 [6NO]

Financial Services and General Government Appropriations: Committee on Appropriations (House) (H.R. 4664) (H. Rept. 118–145), H3639 [17JY]

——— Committee on Appropriations (Senate) (S. 2309) (S. Rept. 118–61), S2458 [13JY]

Nomination of Adriana D. Kugler to FRS Board of Governors: Committee on Banking, Housing, and Urban Affairs (Senate), S2359 [12JY]

Nomination of Lisa DeNell Cook to FRS Board of Governors: Committee on Banking, Housing, and Urban Affairs (Senate), S2359 [12JY]

Nomination of Philip N. Jefferson To Be FRS Board of Governors Vice Chairman: Committee on Banking, Housing, and Urban Affairs (Senate), S2359 [12JY]

Pressure Regulatory Organizations To End Chinese Threats to (PROTECT) Taiwan Act: Committee on Financial Services (House) (H.R. 803) (H. Rept. 118–286), H6079 [1DE]

Texts of

H. Res. 847, consideration of H.R. 4664, financial services and general Government appropriations, H5482 [7NO]

H.R. 4664, financial services and general Government appropriations, H5557–H5582 [8NO]

S. 1838, Credit Card Competition Act, S2007 [7JN]

S. 3404, Student Loan Borrower Bill of Rights, S5751–S5761 [5DE]

S. Res. 89, abandon Modern Monetary Theory and recognize that implementation would lead to higher deficits and higher inflation, S572 [1MR]