Federal Reserve Reform Act

Summary

Federal Reserve Reform Act - Amends the Federal Reserve Act to provide for an annual Congressional review of the Federal Reserve Board of Governors' proposed monetary policy. Prohibits discrimination in the selection of the Board of Directors of the Federal Reserve System. Requires Senate confirmation of the chairman of the Board of Governors. Limits the term of office of the chairman to four years. Prohibits Federal Reserve System officials and employees from communicating with any director, officer or employee of an institution subject to the regulatory authority of the Federal Reserve System in order to influence legislative actions affecting the Federal Reserve System. Makes it a criminal offense for a Federal Reserve bank officer, employee, or director to participate in specified activities affecting personal financial interest.

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Documents

2 official files

• Reported to House with amendment(s)

  summary · EN · 2 August 1977

  Open at official source

• Introduced in House

  summary · EN · 29 June 1977

  Open at official source

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