Federal RuleAug 21
62
DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-hr-146119th CongressWALLET
Prohibition on IOER Act of 2025
Sponsored By: Representative Davidson, Warren [R-OH-8]
Introduced
Summary
Prohibits the Federal Reserve from paying interest on balances that count as required reserves. This bill amends Section 19(b)(12) of the Federal Reserve Act to bar earnings on balances held at a Federal Reserve Bank that are described as reserves required to be maintained by a depository institution.
Personalized for You
How does this bill affect your finances?
Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
No Fed interest on bank reserves
If enacted, the Federal Reserve would be barred from paying interest on banks’ required reserve balances. The Fed also would not be able to pay any other earnings on balances held for banks, unless the same paragraph of law allows an exception. This would cut a source of income for banks and could lead to changes in deposit rates, loan rates, or fees. Changes would start upon enactment.
Sponsors & CoSponsors
Sponsor
Davidson, Warren [R-OH-8]
OH • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov