To amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, and for other purposes.

Bill: 117-hr-6415
Sponsor: full_name: Rep. Emmer, Tom [R-MN-6]
Introduced: 2022-01-18
Policy area: Finance and Financial Sector
Latest action: action_date: 2022-01-18
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2022-01-18
action_desc: Introduced in House
text: <p>This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 6415 IN THE HOUSE OF REPRESENTATIVES January 18, 2022 Mr. Emmer introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, and for other purposes.

1. Prohibition on Federal reserve banks relating to certain products or services for individuals Section 13 of the Federal Reserve Act is amended by adding at the end the following new paragraph: (15) Except as specifically authorized under this Act, a Federal reserve bank may not offer products or services directly to an individual, maintain an account on behalf of an individual, or issue a central bank digital currency directly to an individual. .