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Racial and Economic Equity: New Federal Reserve Duties

This act mandates the Federal Reserve to actively work towards reducing disparities in employment, income, wealth, and access to credit among different racial and ethnic groups. This means monetary policy and bank supervision will need to consider these goals, potentially impacting credit availability and economic opportunities for all citizens. The Federal Reserve will also be required to regularly report to Congress on progress in eliminating these disparities, providing detailed demographic data.
Key points
The Federal Reserve must actively work to minimize and eliminate racial and ethnic disparities in employment, income, wealth, and access to affordable credit.
Monetary policy and bank supervision will incorporate racial and economic equity goals, potentially affecting credit terms and economic opportunities for citizens.
The Federal Reserve will regularly report to Congress on progress, including detailed demographic data on unemployment, income, and wealth trends.
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Additional Information
Print number: 117_S_1327
Sponsor: Sen. Warren, Elizabeth [D-MA]
Process start date: 2021-04-22
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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

Federal Reserve Racial and Economic Equity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1327.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-22.

What are the main provisions?

Key points include:

  • The Federal Reserve must actively work to minimize and eliminate racial and ethnic disparities in employment, income, wealth, and access to affordable credit.
  • Monetary policy and bank supervision will incorporate racial and economic equity goals, potentially affecting credit terms and economic opportunities for citizens.
  • The Federal Reserve will regularly report to Congress on progress, including detailed demographic data on unemployment, income, and wealth trends.
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 Sen. Warren, Elizabeth [D-MA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Courts and Law