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Required Experience for Federal Reserve Bank Supervision Vice Chair

This new law requires that the individual appointed as the Vice Chair for Supervision at the Federal Reserve must have proven experience working in or supervising financial institutions. This aims to ensure that critical decisions regarding bank stability are made by individuals with practical knowledge, which can indirectly impact the security of citizens' savings and loans.
Key points
The person overseeing banks at the Federal Reserve must have experience working in or supervising banks.
This change applies to individuals appointed to this position from the date the law takes effect.
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Expired
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Additional Information
Print number: 118_HR_3558
Sponsor: Rep. Fitzgerald, Scott [R-WI-5]
Process start date: 2023-05-22
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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

Vice Chair of Supervision Banking Experience Requirement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3558.

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 2023-05-22.

What are the main provisions?

Key points include:

  • The person overseeing banks at the Federal Reserve must have experience working in or supervising banks.
  • This change applies to individuals appointed to this position from the date the law takes effect.
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. Fitzgerald, Scott [R-WI-5].

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 2025-12-25.

CATEGORIES

Economy