S 2499
FAIR Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 9:07 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The FAIR Act modifies the Federal Reserve Act to eliminate a provision that allowed the Federal Reserve to earn interest on balances held by banks at the central bank. This change aims to increase transparency and accountability in the Federal Reserve’s operations. Specifically, it removes a paragraph from the Federal Reserve Act regarding earnings on these reserves. The changes will take effect 180 days after the bill’s passage.
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