Federal Reserve Independence Act

referredUnited States· United States Congress· EN

Introduced

26 June 2012

Last action

1 October 2012 · Referred

Status

Referred to the Subcommittee on Domestic Monetary Policy and Technology.

Summary

Federal Reserve Independence Act - Amends the Federal Reserve Act regarding class A membership on the board of directors of a Federal Reserve Bank to require the Board of Governors of the Federal Reserve System (Federal Reserve Board) to designate members from among persons who are not employed in any capacity by a stockholding bank. Requires the Federal Reserve Board to designate the class B members of such board of directors (class B members represent the public). Prohibits employees of any Federal Reserve Board-regulated entity from serving on the board of directors of any Reserve Bank. Prohibits any employee of the Federal Reserve System or any board member of a Reserve Bank from owning stock or investing in any company regulated by the Federal Reserve Board. Directs the Comptroller General to report annually to Congress to ensure implementation of this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

26 June 2012
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
26 June 2012
Introduced
Introduced in House
Source: IntroReferral
26 June 2012
Introduced
Introduced in House
Source: IntroReferral
1 October 2012
Referred
Referred to the Subcommittee on Domestic Monetary Policy and Technology.
Source: Committee

Votes

No vote records are attached yet.

Versions

Introduced in House · 26 June 2012 · Download file

Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 26 June 2012
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Introduced in House (PDF)
Introduced in House · EN · 26 June 2012
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Introduced in House
summary · EN · 26 June 2012
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
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Related records

related to ← Federal Reserve Independence Act

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/112th-congress/house-bill/6023
Open data entity: https://api.congress.gov/v3/bill/112/hr/6023
us · 112-hr-6023 · source updated 5 December 2025