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H.R. 4278 115th Congress House

Independence from Credit Policy Act of 2017

Official title: To ensure that the operations of the Board of Governors of the Federal Reserve System remain independent from the credit policy of the United States, and for other purposes.

Introduced: November 14, 2017 Introduced by: J. French Hill Republican · Arkansas See on congress.gov
Finance and Financial Sector CurrencyFederal Reserve SystemMonetary policySecurities
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 2, 2019
Placed on the Union Calendar, Calendar No. 884.
Jan 2, 2019
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-1117.
Nov 14, 2017
Ordered to be Reported by the Yeas and Nays: 33 - 26.
Nov 14, 2017
Committee Consideration and Mark-up Session Held.
Nov 7, 2017
Referred to the House Committee on Financial Services.
Nov 7, 2017
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.
Nov 7, 2017
Introduced in House
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 Latest action January 2, 2019

Placed on the Union Calendar, Calendar No. 884.

 Plain-English summary Congressional Research Service

Independence from Credit Policy Act of 2017

This bill limits the types of securities that the Federal Reserve Board (FRB) may acquire in the open market to: (1) gold stock; (2) currency; and (3) direct obligations of the United States, foreign banks, or the International Monetary Fund. The FRB must exchange all other assets with the Department of the Treasury for direct U.S. obligations of equivalent value.

 Related & companion bills 2
  • HR 8984 Reintroduced Bill Independence from Credit Policy Act of 2020
  • HR 6741 Federal Reserve Reform Act of 2018
 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1
R
Barr, Andy
Kentucky · Nov 14, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4278: Independence from Credit Policy Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-4278/
MLA
"H.R. 4278: Independence from Credit Policy Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-4278/.
Bluebook (legal)
H.R. 4278, 115th Cong. (2026), https://openamerica.io/bill/115-HR-4278/.
Markdown link
[H.R. 4278: Independence from Credit Policy Act of 2017](https://openamerica.io/bill/115-HR-4278/)
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