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Fed Integrity and Independence Act of 2025
To amend the Federal Reserve Act to prohibit dual appointments of certain employees of the Federal Reserve System, and for other purposes.
Summary
The bill amends the Federal Reserve Act to prohibit members of the Board of Governors of the Federal Reserve System from simultaneously holding any other office or position for which they are appointed by the President, including while on leave of absence. The bill also prohibits Federal Reserve Bank presidents and the first vice president of the Federal Reserve Bank of New York from simultaneously holding any other presidential appointment. Individuals serving in these Federal Reserve positions on the date of enactment who are ineligible under these new restrictions are terminated immediately. The bill's stated purpose is to protect the independence of the Federal Reserve System from political interference by preventing presidential appointees from holding dual positions in the central bank.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Vargas, Juan [D-CA-52] (D-CA)
4 cosponsors
- Rep. Beatty, Joyce [D-OH-3] (D-OH)
- Rep. Casten, Sean [D-IL-6] (D-IL)
- Rep. Fields, Cleo [D-LA-6] (D-LA)
- Rep. Velázquez, Nydia M. [D-NY-7] (D-NY)
Money behind the sponsor
Top reported contributors to Juan Vargas’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $21,100
- CAPITAL GROUP COMPANIES $6,600
- CAPITAL GROUP COMPANIES INC. $6,600
- THE DONNA BENDER COMPANY $6,600
- NATIONAL ENTERPRISES, INC. $5,300
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Juan Vargas → · Outside spending →
Actions (2)
- Sep 18, 2025 Referred to the House Committee on Financial Services. · house
- Sep 18, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
September 18, 2025
Mr. Vargas introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To amend the Federal Reserve Act to prohibit dual appointments of certain employees of the Federal Reserve System, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Fed Integrity and Independence Act of 2025”.
SEC. 2. FINDINGS; SENSE OF CONGRESS.
(a) Findings.—Congress finds the following:
(1) The independence of the Federal Reserve System from political interference from the President is fundamental to the effective operation of the central bank.
(2) Congress structured the Federal Reserve System to ensure that its monetary policy decisions focus on achieving long-run goals and do not become subject to political pressures from the President that could lead to undesirable outcomes.
(3) To protect this independence, Congress made it so members of the Board of Governors of the Federal Reserve System are appointed for staggered 14-year terms, and the Chairman of the Board of Governors is appointed for a four-year term.
(b) Sense of Congress.—It is the sense of Congress that it is not appropriate for any employee appointed by the President—whether they are on leave or not—to serve as a member of the Board of Governors of the Federal Reserve System.
SEC. 3. PROHIBITION OF DUAL APPOINTMENT.
(a) Board of Governors.—The fourth sentence of the first undesignated paragraph of section 10 of the Federal Reserve Act (12 U.S.C. 241) is amended by striking “business of the Board and shall each receive” and inserting “business of the Board, may not simultaneously hold any other office, position, or employment for which the member is appointed by the President, including under a leave of absence from such other office, position, or employment, and shall each receive”.
(b) Federal Reserve Bank Presidents; First Vice President of the Federal Reserve Bank of New York.—The fifth subparagraph of the fourth undesignated paragraph of section 4 of the Federal Reserve Act (12 U.S.C. 341) is amended—
(1) by inserting after the second sentence (relating to presidents of Federal reserve banks) the following: “A president of the bank may not simultaneously hold any other office, position, or employment for which the president is appointed by the President, including under a leave of absence from such other office, position, or employment.”; and
(2) by inserting after the third sentence (relating to first vice presidents of Federal reserve banks) the following: “The first vice president of the Federal Reserve Bank of New York may not simultaneously hold any other office, position, or employment for which the first vice president is appointed by the President, including under a leave of absence from such other office, position, or employment.”.
(c) Rule of Application.—An individual serving as a governor of the Board of Governors of the Federal Reserve System, the president of a Federal reserve bank, or the first vice president of the Federal Reserve Bank of New York on the date of enactment of this Act and who is ineligible to serve in such position due to the amendments made by this section are hereby terminated from such position on the date of enactment of this Act. <all>
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