United StatesHouse Bill 4789HR 4789

FAIR Act

Finance and Financial Sector

2 pages

house
senate
president

Last progress July 29, 2025 (4 months ago)

Introduced on July 29, 2025 by Warren Davidson

House Votes

Pending Committee

July 29, 2025 (4 months ago)

Referred to the House Committee on Financial Services.

Senate Votes

Vote Data Not Available

Presidential Signature

Signature Data Not Available

AI Summary

Text Versions

Text as it was Introduced in House

July 29, 2025•2 pages

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Amendments

No Amendments

This bill deletes a part of the Federal Reserve Act that deals with “earnings on balances.” In plain terms, it removes a rule that lets the Federal Reserve pay out earnings tied to certain account balances. The change is set to start 180 days after the bill becomes law.

Key points:

Who is affected: The Federal Reserve and institutions with balances at the Fed.
What changes: A paragraph in Section 19(b) of the Federal Reserve Act on earnings on balances is removed (paragraph 12).
When: Takes effect 180 days after enactment.