Union Calendar No. 162
117th CONGRESS 2d Session |
[Report No. 117–228]
To amend the Federal Reserve Act to add additional demographic reporting requirements, to modify the goals of the Federal Reserve System, and for other purposes.
April 14, 2021
Ms. Waters (for herself, Mr. García of Illinois, and Mrs. Beatty) introduced the following bill; which was referred to the Committee on Financial Services
January 20, 2022
Additional sponsors: Mrs. Carolyn B. Maloney of New York, Mr. Sherman, and Ms. Williams of Georgia
January 20, 2022
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed in italic]
[For text of introduced bill, see copy of bill as introduced on April 14, 2021]
To amend the Federal Reserve Act to add additional demographic reporting requirements, to modify the goals of the Federal Reserve System, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Federal Reserve Racial and Economic Equity Act”.
SEC. 2. Duty to minimize and eliminate racial disparities.
The Federal Reserve Act (12 U.S.C. 221 et seq.) is amended by inserting after section 2B the following:
“SEC. 2C. Duty to minimize and eliminate racial disparities.
“The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall exercise all duties and functions in a manner that fosters the elimination of disparities across racial and ethnic groups with respect to employment, income, wealth, and access to affordable credit, including actions in carrying out—
SEC. 3. Appearances before and reports to the Congress.
Section 2B of the Federal Reserve Act (12 U.S.C. 225b) is amended—
(1) in subsection (a)(1)—
(B) by striking subparagraph (B) and inserting the following:
(2) in subsection (b)—
Union Calendar No. 162 | |||||
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[Report No. 117–228] | |||||
A BILL | |||||
To amend the Federal Reserve Act to add additional demographic reporting requirements, to modify the goals of the Federal Reserve System, and for other purposes. | |||||
January 20, 2022 | |||||
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed |