Bill
Bill > S887
US S887
US S887A 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.
summary
Introduced
03/21/2023
03/21/2023
In Committee
03/21/2023
03/21/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
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.
AI Summary
This bill amends the Federal Reserve Act to prohibit Federal Reserve banks from offering products or services directly to individuals, maintaining accounts on behalf of individuals, or issuing a central bank digital currency directly to individuals. The purpose of this bill is to restrict the Federal Reserve's ability to engage with individual consumers, rather than focusing on its traditional role of regulating the broader financial system.
Committee Categories
Housing and Urban Affairs
Sponsors (4)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/21/2023)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Banking System and Financial Institution Regulation and Reform
Macroeconomics
- ‐ Monetary Supply, Federal Reserve Board, and Treasury
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/887/all-info | 03/22/2023 |
| BillText | https://www.congress.gov/118/bills/s887/BILLS-118s887is.pdf | 04/05/2023 |
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