S. 530: A bill to require the president of the Federal Reserve Bank of New York to be appointed by the President, by and with the advice and consent of the Senate.

114th Congress · introduced 2015-02-23 · Finance and Financial Sector · Latest: Committee on Banking, Housing, and Urban Affairs. Hearings held.

federal

Follow this bill, step by step

Where it came from: introduced 2015-02-23 · official record
Who proposed it: Sen. Reed, Jack [D-RI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Committee on Banking, Housing, and Urban Affairs. Hearings held. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

A bill to require the president of the Federal Reserve Bank of New York to be appointed by the President, by and with the advice and consent of the Senate.

Plain summary

Amends the Federal Reserve Act to require the president of the Federal Reserve Bank of New York to be appointed by the President, by and with the advice and consent of the Senate, for terms of five years. Requires the president of the Federal Reserve Bank of New York to testify annually to certain congressional committees.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

A bill to require the president of the Federal Reserve Bank of New York to be appointed by the President, by and with the advice and consent of the Senate.

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Reed, Jack [D-RI] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Sen. Reed, Jack [D-RI] reported raising $3.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s530.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>

Record fed-us-cong114-s530 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114