Summary: S.1248 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for S.1248. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (05/07/2015)

Fed Accountability Act of 2015

This bill amends the Federal Reserve Act to authorize each member of the Board of Governors of the Federal Reserve System to employ and select a maximum of four individuals for the member's staff and set their salaries.

The Board must vote, at a properly noticed public meeting, on whether to resolve any enforcement action if its resolution involves the payment of at least $1 million in compensation, penalties, fines, or other payments.

The results of that vote must be: (1) included in the Board's official minutes, and (2) made publicly available on the Board's website.