Skip to main content
S 1018 113th Congress Senate Finance and Financial Sector Banking and financial institutions regulation Congressional oversight Executive agency funding and structure Federal Reserve System

Federal Reserve Independence Act

Introduced: May 22, 2013 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 2013
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 22, 2013
Introduced in Senate
 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.

 Plain-English summary Congressional Research Service

Federal Reserve Independence Act - Amends the Federal Reserve Act regarding class A membership on the board of directors of a Federal Reserve Bank to require the Board of Governors of the Federal Reserve System (Federal Reserve Board) to designate members from among persons who are not employed in any capacity by a stockholding bank.

Requires the Federal Reserve Board to designate the class B members of such board of directors (class B members represent the public).

Prohibits employees of any Federal Reserve Board-regulated entity from serving on the board of directors of any Reserve Bank.

Prohibits any employee of the Federal Reserve System or any board member of a Reserve Bank from owning stock or investing in any company regulated by the Federal Reserve Board.

Directs the Comptroller General to report annually to Congress to ensure implementation of this Act.

What's happening now May 22, 2013

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Related & companion bills 1
  • HR 2100 Identical bill Federal Reserve Independence Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1018: Federal Reserve Independence Act. 113th Congress. Open America. https://openamerica.io/bill/113-S-1018/
MLA
"S. 1018: Federal Reserve Independence Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-S-1018/.
Bluebook (legal)
S. 1018, 113th Cong. (2026), https://openamerica.io/bill/113-S-1018/.
Markdown link
[S. 1018: Federal Reserve Independence Act](https://openamerica.io/bill/113-S-1018/)
Report a problem