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Promoting Diverse Investment Advisers in Federal Reserve Agreements

This act aims to increase the participation of firms owned by women, minorities, and veterans in investment agreements made by the Federal Reserve. This means more diverse firms will have the opportunity to work with the central bank, potentially leading to greater equality of opportunity in the financial sector.
Key points
The Federal Reserve will be required to set goals for using firms owned by women, minorities, and veterans in its investment management agreements.
The act seeks to promote diversity and inclusion within the financial sector, providing opportunities for underrepresented groups.
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Expired
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Additional Information
Print number: 117_HR_9705
Sponsor: Rep. Beatty, Joyce [D-OH-3]
Process start date: 2023-01-03
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Promoting Diverse Investment Advisers Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9705.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-01-03.

What are the main provisions?

Key points include:

  • The Federal Reserve will be required to set goals for using firms owned by women, minorities, and veterans in its investment management agreements.
  • The act seeks to promote diversity and inclusion within the financial sector, providing opportunities for underrepresented groups.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Beatty, Joyce [D-OH-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Public Investments