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HR2418119th CongressWALLET
Federal Reserve Regulatory Oversight Act
Sponsored By: Representative Davidson
Introduced
Summary
Moves non-monetary supervisory and regulatory costs of the Federal Reserve into the annual congressional appropriations process. This bill would require the Board of Governors and Federal Reserve Banks to fund non-monetary administrative activities through appropriations and matching assessments or fees collected as offsetting receipts.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
New bank fees for Federal Reserve oversight
The bill would require Congress to approve money each year for the Federal Reserve’s non‑monetary oversight and admin costs. The Board and Reserve Banks would charge assessments and fees on supervised banks and firms to recover that appropriation. These collections would go into the Board’s appropriation account and could be collected only if Congress authorizes them in advance. Covered costs include exams, stress tests, training, research, data collection, overhead, and pensions. Monetary policy is not affected. The change would start October 1, 2025.
Sponsors & CoSponsors
Sponsor
Davidson
OH • R
Cosponsors
Rep. Donalds, Byron [R-FL-19]
FL • R
Sponsored 3/27/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov