Federal Reserve Board: Richard Shelby, Chairman of Senate Banking Committee Issues Discussion Draft on “The Financial Regulatory Improvement Act of 2015”; Provisions Amending the Federal Reserve Act Interesting

On May 12, 2015, Senator Richard Shelby (R-Alabama), Chairman of the Banking, Housing, and Urban Affairs Committee, released a discussion draft titled “The Financial Regulatory Improvement Act of 2015.”

The portion of the discussion draft that caught my attention was title V, where Sen. Shelby proposes a number of amendments to the Federal Reserve Act.

Attached to this article is theĀ draft text of the proposed bill as well as the Senate Banking Committee’s section-by-section analysis.