Federal Reserve System
US Congress 116th Congress
Payments Modernization Act of 2019 [S.2243]
[Finance ]
[Technology and Innovation ]
Requires the Federal Reserve Board to create a real-time payment system that allows funds to be available to any end user in real time, including funds deposited at a depository institution.
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Competitive Dollar for Jobs and Prosperity Act [S.2357]
[Trade ]
[Finance ]
[Labor, Jobs, Employment ]
[Economic Development ]
A bill to establish a national goal and mechanism to achieve a trade-balancing exchange rate for the United States dollar, to impose market access charge on certain purchases of United States assets, and for other purposes.
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US Congress 116th Congress
Government Bailout Prevention Act [S.2120]
[Budget and Spending ]
[Finance ]
[Funding ]
[Grants ]
[Taxes ]
[Economic Development ]
Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to, or provide grants to any state (defined to include the District of Columbia and any U.S. territory or possession), municipal, local, or county government that, on or after January 1, 2019, has defaulted on its obligations, is at risk of defaulting, or has filed for bankruptcy. The Department of the Treasury is prohibited from using general fund revenues or borrowed funds to purchase or guarantee any asset or obligation of any such state, municipal,
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US Congress 116th Congress
Financial Stability Oversight Council Improvement Act of 2019 [HB-3561]
[Finance ]
The bill requires the Financial Stability Oversight Council, prior to determining that a U.S. nonbank financial company shall be supervised by the Federal Reserve Board and therefore subject to certain prudential standards, to first determine that certain alternative actions would not mitigate the threat the company may pose to U.S. financial stability
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US Congress 116th Congress
Comprehensive Regulatory Review Act [HB-3198]
[Finance ]
[Consumer Protection ]
Expands the required comprehensive review of financial regulatory requirements. Specifically, the review must be completed by the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration, in addition to (as required under current law) the Federal Financial Institutions Examination Council, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve Board. The review must be performed at least every 7, rather than 10, years. After performing the review, a regulator
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US Congress 116th Congress
Loan Shark Prevention Act [HB-2930]
[Finance ]
[Consumer Protection ]
Limits the annual percentage rate for an extension of consumer credit to 15%. The Federal Reserve Board may raise this rate if (1) money market interest rates rise over six months, and (2) it is necessary to ensure the safety and soundness of lenders.
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Loan Shark Prevention Act [S.1389]
[Finance ]
[Consumer Protection ]
Limits the annual percentage rate for an extension of consumer credit to 15%. The Federal Reserve Board may raise this rate if (1) money market interest rates rise over six months, and (2) it is necessary to ensure the safety and soundness of lenders.
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US Congress 116th Congress
SAFE Banking Act of 2019 Secure And Fair Enforcement Banking Act of 2019 [S.1200]
[Cannabis ]
[Finance ]
[Small Business ]
[Law Enforcement ]
Generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate marijuana-related business. Specifically, the bill prohibits a federal banking regulator from (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate marijuana-related business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3)
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Return to Prudent Banking Act of 2019 [HB-2176]
[Finance ]
[Investments ]
Generally separates the activities of commercial banks and investment banks. Specifically, the bill prohibits an insured depository institution from affiliating with any person or firm engaged principally in, among other things, issuing or selling stocks, bonds, notes, or other securities. Officers, directors and employees of securities firms are prohibited from simultaneously serving as an officer, director, or employee of a depository institution, except in specified circumstances. No entity issuing or selling stocks, bonds, or other securities
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US Congress 116th Congress
Freedom Financing Act [HB-2079]
[Finance ]
[Consumer Protection ]
[Small Business ]
Restricts certain banks, credit unions, and payment card networks from refusing to do business with a person based on reputational considerations.
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US Congress 116th Congress
Independent Agency Regulatory Analysis Act [S.869]
[Budget and Spending ]
[Consumer Protection ]
[Economic Development ]
[Public Health ]
[Public Safety ]
Authorizes the President to require an independent regulatory agency to (1) comply with regulatory analysis requirements applicable to other federal agencies, (2) provide the Office of Information and Regulatory Affairs with an assessment of the costs and benefits of a proposed or final economically significant rule and an assessment of costs and benefits of potentially effective and reasonably feasible alternatives to the rule, (3) publish the assessments with the rules, and (4) submit to the office for review any proposed or final economically
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US Congress 116th Congress
Unfunded Mandates Accountability Act [S.870]
[Budget and Spending ]
[Consumer Protection ]
[Economic Development ]
[Inflation ]
Revises rulemaking requirements with respect to unfunded mandates. Specifically, the bill (1) requires federal agencies to prepare and publish in the Federal Register an initial and final regulatory impact analysis prior to promulgating any proposed or final rule that may have an annual effect on the economy of $100 million or more (adjusted for inflation); (2) requires consideration of regulatory alternatives to the rule and requires the selection of the least costly, most cost-effective, or least burdensome alternative; (3) exempts from such requirements
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Freedom Financing Act [S.821]
[Finance ]
[Consumer Protection ]
[Small Business ]
Restricts certain banks, credit unions, and payment card networks from refusing to do business with a person based on reputational considerations.
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US Congress 116th Congress
Consumers First Act [HB-1500]
[Finance ]
[Student Loans ]
[Consumer Protection ]
[Housing ]
[Medicare and Medicaid ]
[Budget and Spending ]
[Veterans ]
[Senior Citizens ]
[Children and Youth ]
[Data Privacy ]
Revises provisions related to the administration of the Consumer Financial Protection Bureau (CFPB). (Sec. 3) The bill amends all statutory references to the "Bureau of Consumer Financial Protection" to refer instead to the "Consumer Financial Protection Bureau." (Sec. 5) Specified units, offices, and boards of the CFPB must perform their assigned duties and may not be renamed or reorganized. The bill establishes requirements for staffing levels, political appointees, and the publication of consumer complaints regarding consumer financial products
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US Congress 116th Congress
Financial Stability Oversight Council Improvement Act of 2019 [S.603]
[Finance ]
The bill requires the Financial Stability Oversight Council, prior to determining that a U.S. nonbank financial company shall be supervised by the Federal Reserve Board and therefore subject to certain prudential standards, to first determine that certain alternative actions would not mitigate the threat the company may pose to U.S. financial stability
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US Congress 116th Congress
Consumer Financial Protection Bureau Accountability Act of 2019 [S.453]
[Consumer Protection ]
[Finance ]
[Budget and Spending ]
Changes the source of funding for the Consumer Financial Protection Bureau (CFPB) from Federal Reserve System transfers to annual appropriations. Under current law, the transfers from the Federal Reserve System permit the CFPB to be funded outside of the annual appropriations process.
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US Congress 116th Congress
Executive Branch Conflict of Interest Act [S.156]
[Ethics ]
[Law Enforcement ]
Revises ethics requirements and modifies provisions related to conflicts of interest involving certain federal government employees. Specifically, the bill expands restrictions on certain federal government employees' acceptance of compensation from nongovernment sources, generally requires certain federal government employees to recuse themselves from any official action that would provide a direct and substantial pecuniary benefit for a recent former employer or client, generally prohibits such an employee from participating in matters that involve
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Federal Reserve Transparency Act of 2019 [S.148]
[Finance ]
[Budget and Spending ]
[Taxes ]
Establishes requirements regarding audits of certain financial agencies performed by the Government Accountability Office (GAO). Specifically, the bill directs the GAO to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open
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Ensuring Diverse Leadership Act of 2019 [S.65]
[Finance ]
[Labor, Jobs, Employment ]
[Race and Civil Rights ]
[Trade ]
Requires that in making the appointment of a president, a Federal Reserve Bank must interview at least one individual reflective of gender diversity and one reflective of racial or ethnic diversity. The bill amends numerous banking-, finance-, and trade-related Acts to make references to officials (including those to the Chairman of the Board of Governors of the Federal Reserve System) gender-neutral.
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US Congress 116th Congress
Federal Reserve Supervision Testimony Clarification Act [HB-974]
[Finance ]
Requires the Vice Chairman for Supervision of the Federal Reserve Board to provide a written testimony on board efforts regarding the supervision of certain financial institutions. If such position is vacant, another specified representative of the board must testify.