To amend the Federal Reserve Act to limit banker representation on boards of directors of Federal Reserve banks, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Federal Reserve Act to limit banker representation on boards of directors of Federal Reserve banks, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Labor.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Strengthening Federal Reserve System Accountability Act of 2023.
- Section idfa26ef77e2cc466297511671bd23b28c: 2. Banker representation on Federal Reserve bank boards The tenth undesignated paragraph of section 4 of the Federal Reserve Act (12 U.S.C. 302) is amended— by...
- Section id33f8152ca9db4415b298adf45284e68e: 3. Reserve Bank director responsibilities The eighth undesignated paragraph of section 4 of the Federal Reserve Act (12 U.S.C. 301) is amended by inserting...
- Section ida5e040ad72f7404d9026e4baa15979bc: 4. Federal Reserve transparency and independence The 19th undesignated paragraph of section 4 of the Federal Reserve Act (12 U.S.C. 304) is amended by...
- Section id4f07909ef54a4207822ae011162706cd: 5. Federal Reserve ethics Section 4 of the Federal Reserve Act, as amended by section 4(b) of this Act, is amended by adding at the end the following: Each...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
This bill, To amend the Federal Reserve Act to limit banker representation on boards of directors of Federal Reserve banks, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Labor
Primary Purpose
This bill, To amend the Federal Reserve Act to limit banker representation on boards of directors of Federal Reserve banks, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
Contextual inference, no direct clause citation- financial institutions, investors, and borrowers
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- federal implementing agencies
- financial institutions, investors, and borrowers
Contextual inference, no direct clause citation
Sponsors
Legislative Progress
IntroducedMs. Warren (for herself and Mr. Scott of Florida) introduced …
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?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
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.
Learn more about our methodology