Us Congress 2025-2026 Regular Session

Us Congress House Bill HB2418

Introduced
3/27/25  

Caption

Federal Reserve Regulatory Oversight Act

Impact

The implications of this bill are significant as it seeks to create a layer of fiscal oversight that currently may not fully apply to the Federal Reserve's non-monetary operations. By doing so, the bill could lead to more structured financial planning within the Federal Reserve, potentially affecting its operational efficiency and its capability to regulate financial entities effectively. This shift might also elevate debates about the independence of the Federal Reserve, as additional appropriations requirements could raise concerns about political influence on its otherwise autonomous functions.

Summary

House Bill 2418, titled the 'Federal Reserve Regulatory Oversight Act', aims to amend the Federal Reserve Act by bringing the non-monetary policy related functions of the Board of Governors of the Federal Reserve System into the appropriations process. The bill specifies that the Board and Federal Reserve banks can only incur expenses related to non-monetary policy administrative costs if they are outlined in an appropriations act. This change is intended to enhance accountability and ensure that the Federal Reserve operates within a framework governed by approved budgets, aligning it more closely with practices typical of other government agencies.

Contention

Opponents of HB 2418 may argue that subjecting the Federal Reserve's non-monetary functions to the appropriations process compromises its independence and flexibility required for effective monetary regulation. They may contend that increased bureaucratic oversight could delay necessary actions in financial regulation and hinder the Federal Reserve's swift response to economic crises. Proponents, however, highlight the necessity for greater transparency and accountability in how the Federal Reserve manages public resources, arguing that such measures are essential for public trust and legislative oversight.

Companion Bills

No companion bills found.

Previously Filed As

US HB10162

RESERVE Federal Land Act Review and Evaluation of Strategies for Equitable Reservations for Visitor Experiences Federal Land Act

US HB6346

Advancing Nuclear Regulatory Oversight Act

US HB10530

To amend the Federal Reserve Act to modify the goals of the Board of Governors of the Federal Reserve System, to eliminate class A and B directors from the board of directors of each Federal reserve bank, and to establish certain reporting requirements for the Board of Governors, and for other purposes.

US HB8421

Federal Reserve Board Abolition Act

US HB10542

To amend the Federal Deposit Insurance Act and the Federal Credit Union Act to authorize a temporary transaction account guarantee program, expand deposit and share insurance to cover business payment accounts, and for other purposes.

US HB8920

Tule River Tribe Reserved Water Rights Settlement Act of 2024

US HB7804

Proprietary Education Interagency Oversight Coordination Improvement Act

US HB8337

Bank Resilience and Regulatory Improvement Act

US SB4463

Federal Reserve Board Abolition Act

US HB8413

Swanson and Hugh Butler Reservoirs Land Conveyances Act

Similar Bills

No similar bills found.