Ending Conflicts of Interest on Federal Reserve Bank Boards.
This bill aims to eliminate conflicts of interest within the regional Federal Reserve bank boards, promoting greater impartiality in financial decisions. It bans employees of banks and regulated entities from serving on these boards. Furthermore, Fed employees and board members are prohibited from owning stock or investing in any company regulated by the Fed, ensuring a more stable and fair economic policy.
Key points
Employees of banks and Fed-regulated entities are banned from serving on the boards of Federal Reserve banks.
Fed employees and board members face a total ban on owning stock or investing in any company regulated by the Fed.
The selection process for regional board members (Class A and B) changes from election by banks to designation by the Fed's Board of Governors, reducing bank influence.
Status:
Expired
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