I 
118TH CONGRESS 
2D SESSION 
H. R. 7247 
To amend the Federal Reserve Act to require Federal Reserve banks to 
interview at least one individual reflective of gender diversity and one 
individual reflective of racial or ethnic diversity when appointing Federal 
Reserve bank presidents, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 6, 2024 
Mrs. BEATTY (for herself, Ms. ADAMS, Mr. BISHOP of Georgia, Mr. CARSON, 
Mr. CLEAVER, Mr. EVANS, Mrs. HAYES, Mr. JOHNSON of Georgia, Ms. 
KELLY of Illinois, Ms. LEE of California, Mr. MEEKS, Ms. MOORE of 
Wisconsin, Ms. NORTON, Mr. THOMPSON of Mississippi, Mr. TORRES of 
New York, Mr. VEASEY, Ms. VELA´ZQUEZ, and Ms. WILLIAMS of Georgia) 
introduced the following bill; which was referred to the Committee on Fi-
nancial Services 
A BILL 
To amend the Federal Reserve Act to require Federal Re-
serve banks to interview at least one individual reflective 
of gender diversity and one individual reflective of racial 
or ethnic diversity when appointing Federal Reserve bank 
presidents, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Ensuring Diverse 
Leadership Act of 2024’’. 
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SEC. 2. CONGRESSIONAL FINDINGS. 
The Congress finds that— 
(1) while significant progress has occurred due 
to the antidiscrimination amendments to the Federal 
Reserve Act, barriers continue to pose significant ob-
stacles for candidates reflective of gender diversity 
and racial or ethnic diversity for Federal Reserve 
bank president positions in the Federal Reserve Sys-
tem; 
(2) the continuing barriers described in para-
graph (1) merit the following amendment; 
(3) Congress has received and reviewed testi-
mony and documentation of the historical lack of 
gender, racial, and ethnic diversity from numerous 
sources, including congressional hearings, scientific 
reports, reports issued by public and private agen-
cies, news stories, and reports of related barriers by 
organizations and individuals, which show that race- 
, ethnicity-, and gender-neutral efforts alone are in-
sufficient to address the problem; 
(4) the testimony and documentation described 
in paragraph (3) demonstrate that barriers across 
the United States prove problematic for full and fair 
participation in developing monetary policy by indi-
viduals reflective of gender diversity and racial or 
ethnic diversity; and 
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(5) the testimony and documentation described 
in paragraph (3) provide a strong basis that there 
is a compelling need for the below amendment to ad-
dress the historical lack of gender, racial, and ethnic 
diversity in the Federal Reserve regional bank presi-
dents selection process in the Federal Reserve Sys-
tem. 
SEC. 3. FEDERAL RESERVE BANK PRESIDENTS. 
(a) IN GENERAL.—The provision designated ‘‘fifth’’ 
of the fourth undesignated paragraph of section 4 of the 
Federal Reserve Act (12 U.S.C. 341) is amended by in-
serting after ‘‘employees.’’ the following: ‘‘In making the 
appointment of a president, the bank shall interview at 
least one individual reflective of gender diversity and one 
individual reflective of racial or ethnic diversity.’’. 
(b) REPORT.—Not later than January 1 of each year, 
each Federal reserve bank shall submit to the Committee 
on Banking, Housing, and Urban Affairs of the Senate, 
the Committee on Financial Services of the House of Rep-
resentatives, and the Office of Inspector General for the 
Board of Governors of the Federal Reserve System and 
the Bureau of Consumer Financial Protection a report de-
scribing the applicant pool demographic for the position 
of the president of the Federal reserve bank for the pre-
ceding fiscal year, if applicable. 
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SEC. 4. TECHNICAL ADJUSTMENTS. 
(a) AMERICAN COMPETITIVENESS AND WORKFORCE 
IMPROVEMENT ACT
OF 1998.—Section 418(b) of the 
American Competitiveness and Workforce Improvement 
Act of 1998 (8 U.S.C. 1184 note) is amended by striking 
‘‘Chairman of the Board of Governors’’ and inserting 
‘‘Chair of the Board of Governors’’. 
(b) BRETTON
WOODS
AGREEMENTS
ACT.—The 
Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) 
is amended— 
(1) in section 4(a), by striking ‘‘Chairman of 
the Board of Governors’’ and inserting ‘‘Chair of the 
Board of Governors’’; and 
(2) in section 45(a)(1), by striking ‘‘chairman 
of the board of Governors’’ and inserting ‘‘Chair of 
the Board of Governors’’. 
(c) DODD-FRANK WALL STREET REFORM AND CON-
SUMER PROTECTION ACT.—The Dodd-Frank Wall Street 
Reform and Consumer Protection Act (12 U.S.C. 5301 
et seq.) is amended by striking ‘‘Chairman of the Board’’ 
each place such term appears and inserting ‘‘Chair of the 
Board’’. 
(d) EMERGENCY ECONOMIC STABILIZATION ACT OF 
2008.—The Emergency Economic Stabilization Act of 
2008 (12 U.S.C. 5201 et seq.) is amended by striking 
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‘‘Chairman of the Board’’ each place such term appears 
and inserting ‘‘Chair of the Board’’. 
(e) EMERGENCY LOAN GUARANTEE ACT.—Section 2 
of the Emergency Loan Guarantee Act (15 U.S.C. 1841) 
is amended by striking ‘‘Chairman of the Board of Gov-
ernors’’ and inserting ‘‘Chair of the Board of Governors’’. 
(f) EMERGENCY STEEL LOAN GUARANTEE
AND 
EMERGENCY OIL AND GAS GUARANTEED LOAN ACT OF 
1999.—The Emergency Steel Loan Guarantee and Emer-
gency Oil and Gas Guaranteed Loan Act of 1999 (15 
U.S.C. 1841 note) is amended— 
(1) in section 101(e)(2)— 
(A) by striking ‘‘Chairman of the Board of 
Governors’’ and inserting ‘‘Chair of the Board 
of Governors’’; and 
(B) by striking ‘‘Chairman,’’ and inserting 
‘‘Chair,’’; and 
(2) in section 201(d)(2)(B)— 
(A) by striking ‘‘Chairman of the Board of 
Governors’’ and inserting ‘‘Chair of the Board 
of Governors’’; and 
(B) by striking ‘‘Chairman,’’ and inserting 
‘‘Chair,’’. 
(g) 
FARM
CREDIT
ACT
OF
1971.—Section 
4.9(d)(1)(C) of the Farm Credit Act of 1971 (12 U.S.C. 
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2160(d)(1)(C)) is amended by striking ‘‘Chairman of the 
Board of Governors’’ and inserting ‘‘Chair of the Board 
of Governors’’. 
(h) FEDERAL DEPOSIT INSURANCE ACT.—The Fed-
eral Deposit Insurance Act (12 U.S.C. 1811 et seq.) is 
amended— 
(1) in section 7(a)(3), by striking ‘‘Chairman of 
the Board of Governors’’ and inserting ‘‘Chair of the 
Board of Governors’’; and 
(2) in section 10(k)(5)(B)(ii), by striking 
‘‘Chairman of the Board of Governors’’ and insert-
ing ‘‘Chair of the Board of Governors’’. 
(i) FEDERAL RESERVE ACT.—The Federal Reserve 
Act (12 U.S.C. 226 et seq.) is amended— 
(1) by striking ‘‘chairman’’ each place such 
term appears and inserting ‘‘chair’’; 
(2) by striking ‘‘Chairman’’ each place such 
term appears other than in section 11(r)(2)(B) and 
inserting ‘‘Chair’’; 
(3) in section 2, in the sixth undesignated para-
graph— 
(A) in the second sentence, by striking 
‘‘his’’ and inserting ‘‘the Comptroller of the 
Currency’s’’; and 
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