Title 12, Banks and BankingRelease 119-102
§250 Independence of Financial Regulatory Agencies
Title 12 › CHAPTER 3 — FEDERAL RESERVE SYSTEM › SUBCHAPTER II — BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM › § 250
Summary
Stops any U.S. officer or agency from making seven named financial regulators get approval or review of their recommendations, testimony, or comments on legislation before those items go to Congress. The rule applies when the documents say they reflect the agency's views and not necessarily the President's.
Full Legal Text
Title 12, §250
Banks and Banking, Source: USLM XML via OLRC
No officer or agency of the United States shall have any authority to require the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Director of the Federal Housing Finance Agency, or the National Credit Union Administration to submit legislative recommendations, or testimony, or comments on legislation, to any officer or agency of the United States for approval, comments, or review, prior to the submission of such recommendations, testimony, or comments to the Congress if such recommendations, testimony, or comments to the Congress include a statement indicating that the views expressed therein are those of the agency submitting them and do not necessarily represent the views of the President.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section was not enacted as part of the Federal Reserve Act which comprises this chapter.
Amendments
2008—Pub. L. 110–289 substituted “the Director of the Federal Housing Finance Agency” for “the Federal Housing Finance Board”. 1999—Pub. L. 106–102 substituted “Director of the Office of Thrift Supervision, the Federal Housing Finance Board,” for “Federal Home Loan Bank Board,”. 1994—Pub. L. 103–325 inserted “the Comptroller of the Currency,” after “Federal Deposit Insurance Corporation,”.
Reference
Citations & Metadata
Citation
12 U.S.C. § 250
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102