Bill > HR4302

This bill amends the Federal Reserve Act to create congressional accountability for the Federal Reserve's emergency lending programs. The key provisions include: (1) requiring the prior approval of the Secretary of the Treasury and not less than 23 members of the Federal Open Market Committee to establish emergency lending programs; (2) imposing new requirements on the collateral accepted by the Federal Reserve for such lending programs; (3) requiring the Federal Reserve and banking regulators to certify that a borrower is not insolvent before they can access an emergency lending program; and (4) establishing a process for Congress to approve or disapprove of emergency lending programs within 30 days of being notified about them.

Business and Industry

https://www.congress.gov/bill/115th-congress/house-bill/4302/all-info