Skip to main content
HR 1442 105th Congress House

Federal Reserve Free Enterprise Act

Official title: To amend the Federal Reserve Act to expand the opportunity for private enterprise to compete with the Board of Governors of the Federal Reserve System in the p… Show full official titleShow less

Official title: To amend the Federal Reserve Act to expand the opportunity for private enterprise to compete with the Board of Governors of the Federal Reserve System in the provision of check-clearing and other services, and for other purposes.

Introduced: June 5, 1997 See on congress.gov
Finance and Financial Sector Administrative procedureAuditingBank recordsChecks
More subjectsShow fewer subjects
CommerceCompetitionCongressCongressional investigationsCongressional reporting requirementsFederal Reserve SystemFeesFinancial deregulationFinancial servicesGovernment Operations and PoliticsGovernment paperworkLaw
Sign in to write a letter Sign in to watch
This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 16, 1997
Referred to the Subcommittee on Domestic and International Monetary Policy.
Apr 24, 1997
Referred to the House Committee on Banking and Financial Services.
Apr 24, 1997
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action May 16, 1997

Referred to the Subcommittee on Domestic and International Monetary Policy.

 Plain-English summary Congressional Research Service

Federal Reserve Free Enterprise Act - Amends the Federal Reserve Act to specify new Federal Reserve bank services to be covered by a statutory fee schedule. Directs the Board of Governors of the Federal Reserve Bank (the Board) to publish the revised schedule.

Requires the Board, upon a competitor's request, to publish the price of service components.

Amends Federal law to instruct the Comptroller General to conduct an annual audit of the Board and the Federal reserve banks to determine compliance with fee establishment requirements.

Mandates an annual audit report to the Congress.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Waters, Maxine
California · Jun 5, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1442: Federal Reserve Free Enterprise Act. 105th Congress. Open America. https://openamerica.io/bill/105-HR-1442/
MLA
"H.R. 1442: Federal Reserve Free Enterprise Act." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-1442/.
Bluebook (legal)
H.R. 1442, 105th Cong. (2026), https://openamerica.io/bill/105-HR-1442/.
Markdown link
[H.R. 1442: Federal Reserve Free Enterprise Act](https://openamerica.io/bill/105-HR-1442/)
Report a problem