Strengthening Federal Reserve System Accountability Act of 2023

This bill changes how the Federal Reserve's regional bank boards are structured and operated. It limits Class A directors (representing banks) to those from institutions with under $50 billion in assets, requires the Board of Governors to appoint Class B directors (previously elected), and sets a two-term limit for all directors. The bill also mandates public disclosure of director candidate lists, voting records on major settlements, and standardized ethics rules for all Fed officials, including investment disclosures. These changes aim to increase transparency and reduce potential conflicts of interest among Fed governance roles.