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S 1155 118th Congress Senate Finance and Financial Sector

Federal Reserve Accountability Act of 2023

Introduced: March 30, 2023 Introduced by: Tillis, Thomas Republican · North Carolina See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Mar 30, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 30, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Federal Reserve Accountability Act of 2023

This bill changes the appointment of certain officials to the of Board of Governors of the Federal Reserve System and makes other changes to the operation of the board and Federal Reserve banks.

Specifically, the bill

  • requires the President to appoint a general counsel for the board with the advice and consent of the Senate;
  • requires the President, rather than each bank's board of directors, to appoint presidents of Federal Reserve banks;
  • reduces the number of Federal Reserve districts from 12 to 5;
  • allows the President to appoint two members to the board from any one Federal Reserve district; and
  • prohibits the use of any board or Federal Reserve bank funds for lobbying activities.
What's happening now March 30, 2023

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

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3
R
Cramer, Kevin
North Dakota · Mar 30, 2023
 R
Cruz, Ted
Texas · Mar 30, 2023
 R
Lummis, Cynthia M.
Wyoming · Mar 30, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1155: Federal Reserve Accountability Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-S-1155/
MLA
"S. 1155: Federal Reserve Accountability Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-1155/.
Bluebook (legal)
S. 1155, 118th Cong. (2026), https://openamerica.io/bill/118-S-1155/.
Markdown link
[S. 1155: Federal Reserve Accountability Act of 2023](https://openamerica.io/bill/118-S-1155/)
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