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Federal Reserve Board Changes: End of Vice Chairman for Supervision Role

This bill aims to eliminate the position of Vice Chairman for Supervision from the Federal Reserve Board. This means one of the board members will no longer have a specific role overseeing banks and financial firms. For citizens, this could alter how financial institutions are supervised, indirectly affecting the stability of the banking system.
Key points
Removes the specific position of Vice Chairman responsible for supervising banks and financial firms within the Federal Reserve.
Changes the structure of the Federal Reserve Board, reducing the number of Vice Chairmen from two to one, without an assigned supervisory function.
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Expired
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Additional Information
Print number: 118_HR_4630
Sponsor: Rep. Ogles, Andrew [R-TN-5]
Process start date: 2023-07-13
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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

Supervision Reform Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4630.

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 2023-07-13.

What are the main provisions?

Key points include:

  • Removes the specific position of Vice Chairman responsible for supervising banks and financial firms within the Federal Reserve.
  • Changes the structure of the Federal Reserve Board, reducing the number of Vice Chairmen from two to one, without an assigned supervisory function.
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. Ogles, Andrew [R-TN-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