To amend the Federal Reserve Act to add additional demographic reporting requirements, to modify the goals of the Federal Reserve System, 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 add additional demographic reporting requirements, to modify the goals of the Federal Reserve System, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Labor, Government Operations.
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 H6D9FD596847F472EA4E58828AF87D6D0: 1. Short title This Act may be cited as the Federal Reserve Racial and Economic Equity Act.
- Section H6E32E38A94C243D4BE43A20978BBCABD: 2. Duty to minimize and eliminate racial disparities The Federal Reserve Act (12 U.S.C. 221 et seq.) is amended by inserting after section 2B the following:...
- Section H1486C3471BD54F08836970CD5E6D3986: 2C. Duty to minimize and eliminate racial disparities The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall exercise...
- Section H904738BB23BC42A2AEAEB8043CDBFC1F: 3. Appearances before and reports to the Congress Section 2B of the Federal Reserve Act (12 U.S.C. 225b) is amended— in subsection (a)(1)— in subparagraph (A),...
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
This bill, To amend the Federal Reserve Act to add additional demographic reporting requirements, to modify the goals of the Federal Reserve System, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Labor, Government Operations
Primary Purpose
This bill, To amend the Federal Reserve Act to add additional demographic reporting requirements, to modify the goals of the Federal Reserve System, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Warren (for herself, Mr. Blumenthal, Mr. Markey, Mr. Van …
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