Skip to main content
HR 8984 116th Congress House Finance and Financial Sector Currency Federal Reserve System Monetary policy Securities

Independence from Credit Policy Act of 2020

Introduced: December 16, 2020 Introduced by: Hill, J. French Republican · Arkansas See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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
Dec 16, 2020
Referred to the House Committee on Financial Services.
Dec 16, 2020
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.

 Plain-English summary Congressional Research Service

Independence from Credit Policy Act of 2020

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

What's happening now December 16, 2020

Referred to the House Committee on Financial Services.

 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). H.R. 8984: Independence from Credit Policy Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-HR-8984/
MLA
"H.R. 8984: Independence from Credit Policy Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-8984/.
Bluebook (legal)
H.R. 8984, 116th Cong. (2026), https://openamerica.io/bill/116-HR-8984/.
Markdown link
[H.R. 8984: Independence from Credit Policy Act of 2020](https://openamerica.io/bill/116-HR-8984/)
Report a problem