FAIR Act
This bill amends the Federal Reserve Act by removing a specific provision (paragraph (12) of Section 19(b)) related to interest earnings on reserve balances held by banks at the Federal Reserve. It directly affects how the Federal Reserve calculates and handles interest payments on these reserves. The change takes effect 180 days after the bill becomes law. This is a procedural adjustment to existing law, not a new policy.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jul 2025
Committee Review
Floor Vote
President
Introduced Jul 29, 2025
Last action Jul 29, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jul 29, 2025
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Jul 29, 2025
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor
Sponsors
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