A bill to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, and for other purposes.

S 887 would amend the Federal Reserve Act to prohibit Federal Reserve banks from offering financial products or services directly to individual consumers. Specifically, the bill bans these banks from maintaining personal accounts or issuing a central bank digital currency directly to people. This change would require the Federal Reserve to avoid direct consumer financial services, shifting such offerings to commercial banks and other institutions. The bill does not alter the Federal Reserve's core responsibilities for monetary policy or bank regulation.