Fully Informed District Bank Act

Bill: 115-hr-4757
Sponsor: full_name: Rep. Pittenger, Robert [R-NC-9]
Introduced: 2018-01-10
Policy area: Finance and Financial Sector
Subjects: Federal Reserve System
Latest action: action_date: 2018-01-10
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2018-01-10
action_desc: Introduced in House
text: <p><b>Fully Informed District Bank Act</b></p> <p>This bill amends the Federal Reserve Act to modify the appointment processes for presidents and first vice presidents&nbsp;of Federal Reserve banks. Specifically, Class A directors&nbsp;(representatives of the banking industry)&nbsp;on&nbsp;a bank's board may vote on such&nbsp;appointments, as may,&nbsp;under current law, Class B and Class C directors (representatives of the public).</p>

tv_txt: I 115th CONGRESS 2d Session H. R. 4757 IN THE HOUSE OF REPRESENTATIVES January 10, 2018 Mr. Pittenger introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Reserve Act to modify the appointment process for presidents of Federal Reserve Banks.

1. Short title This Act may be cited as the Fully Informed District Bank Act . 2. Amendment to appointment of presidents of Federal Reserve Banks The fifth subparagraph of the fourth undesignated paragraph of section 4 of the Federal Reserve Act ( 12 U.S.C. 341 ) is amended by striking Class B and Class C directors and inserting board of directors .