Bill · H.R. 2418· House(119-HR-2418)
Federal Reserve Regulatory Oversight Act
- Introduced
- 3/27/2025
- Last activity
- 3/27/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- Warren Davidson
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
The Federal Reserve Regulatory Oversight Act seeks to amend the Federal Reserve Act. It aims to bring the non-monetary policy related functions of the Board of Governors of the Federal Reserve System into the appropriations process. Under this bill, the Board of Governors and federal reserve banks would collect assessments and fees to recover the costs of annual appropriations from Congress. These funds would be credited as offsetting collections to the Board's account. The act specifically targets non-monetary policy related administrative costs.
Yes
Does this make what the government does easier for the public to see?+3
By bringing non-monetary administrative costs into the appropriations process, the bill increases transparency of Federal Reserve spending.
Does this reduce what the federal government spends?+2
The bill subjects non-monetary administrative costs to the annual appropriations process, potentially increasing congressional oversight of spending.
Does this make the government pay for what it commits to?+2
It enhances fiscal responsibility by bringing Federal Reserve administrative expenses under direct congressional appropriation oversight.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Oversight of Administrative Costs: The bill requires that the Board of Governors and federal reserve banks may only incur obligations or pay expenses for non-monetary policy related administrative costs pursuant to an appropriations Act (Section 2(a)(1)). This brings specific oversight to how administrative costs are handled.
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Defined Scope of Administrative Expenses: The bill provides a clear definition of what constitutes non-monetary policy related administrative costs, including direct operating expenses for supervision, regulatory activities, and related support or overhead (Section 2(b)(2)). This provides clarity on what specific activities are subject to the new requirements.
Potential Negative Impacts for People
-
Restrictions on Financial Flexibility: The Board of Governors and federal reserve banks would be restricted to only incurring obligations or paying expenses for non-monetary policy related administrative costs through an appropriations Act (Section 2(a)(1)).
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Collection Limitations: Assessments and other fees cannot be collected for any fiscal year except to the extent that they are provided in advance in appropriation Acts (Section 2(a)(2)(B)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Fiscal Responsibility+2Reduces Government Spending+2
- Governance And Ideology
- Improves Government Transparency+3
- 3/27/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
Byron DonaldsRepublican · Florida