To amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
Summary
What This Bill Does
The bill requires prohibition on Federal reserve banks relating to certain products or services for individuals Section 13 of the Federal Reserve Act is amended by adding at the end the following new paragraph: (15)Except and requires central bank digital currency study and pilot program coordination With respect to any central bank digital currency study or pilot program of the Board of Governors of the Federal Reserve System, the Board. It relies on compliance mandates, product standards, and reporting requirements. The main policy areas are Financial Services and Finance.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties and Financial services firms and customers affected by the bill would take on compliance duties.
Key Provisions
- Requires prohibition on Federal reserve banks relating to certain products or services for individuals Section 13 of the Federal Reserve Act is amended by adding at the end the following new paragraph: (15)Except...
- Requires central bank digital currency study and pilot program coordination With respect to any central bank digital currency study or pilot program of the Board of Governors of the Federal Reserve System, the Board...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires prohibition on Federal reserve banks relating to certain products or services for individuals Section 13 of the Federal Reserve Act is amended by adding at the end the following new paragraph: (15)Except and requires central bank digital currency study and pilot program coordination With respect to any central bank digital currency study or pilot program of the Board of Governors of the Federal Reserve System, the Board.
Key Policy Areas
Financial Services, Finance
Primary Purpose
The bill requires prohibition on Federal reserve banks relating to certain products or services for individuals Section 13 of the Federal Reserve Act is amended by adding at the end the following new paragraph: (15)Except and requires central bank digital currency study and pilot program coordination With respect to any central bank digital currency study or pilot program of the Board of Governors of the Federal Reserve System, the Board.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Financial services firms and customers affected by the bill
Sponsors
Legislative Progress
IntroducedMr. Emmer (for himself, Mr. Hill, Mr. Davidson, Mr. Flood, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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