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Support for Diverse Firms in Federal Reserve Investment Management

This act aims to increase the participation of firms owned by women, minorities, and veterans in the Federal Reserve's investment management. This means more diverse businesses could secure contracts, potentially fostering their growth and creating new business opportunities in the financial sector.
Key points
The Federal Reserve must set goals for using diverse investment advisors and brokers.
Firms owned by women, minorities, or veterans will have increased opportunities to work with the Federal Reserve.
The Federal Reserve will report on progress towards these goals, enhancing transparency.
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Expired
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Additional Information
Print number: 118_HR_7579
Sponsor: Rep. Beatty, Joyce [D-OH-3]
Process start date: 2024-03-07
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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

Emergency Lending Diversity Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7579.

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 2024-03-07.

What are the main provisions?

Key points include:

  • The Federal Reserve must set goals for using diverse investment advisors and brokers.
  • Firms owned by women, minorities, or veterans will have increased opportunities to work with the Federal Reserve.
  • The Federal Reserve will report on progress towards these goals, enhancing transparency.
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 2025-12-25.

CATEGORIES

Economy Public Investments