US Codex
Bill
Notes

H.R. 2543 — what changed

Financial Services Racial Equity, Inclusion, and Economic Justice Act

From Introduced in House to Reported in House. 1 section amended between Introduced in House and Reported in House.

Sec. 3 Appearances before and reports to the Congress

Section 2B of the Federal Reserve Act (12 U.S.C. 225b) is amended—

(1)
in subsection (a)(1)—
(A)
in subparagraph (A), by striking “and” at the end; and
(B)
by striking subparagraph (B) and inserting the following:

“(B) economic developments and prospects for the future described in the report required in subsection (b), including a discussion of disparities in employment, income, and wealth across racial and ethnic groups as well as other specific segments of the population; and

changed “(C) plans, activities, and actions of the Board and the Federal Open Market Committee to minimize and eliminate racial disparities in across racial and ethnic groups with respect to employment, wages, wealth, and access to affordable credit pursuant to section 2C.”

(2)
in subsection (b)—
(A)
by striking “The Board” and inserting the following:

“(1) In general—The Board”

(B)
by adding at the end the following:

“(2) Trend information

“(A) In general—Each report required under paragraph (1) shall include recent trends in the unemployment rate, labor force participation rate, employment to population ratio, median household income, and change in real earnings.

“(B) Demographic information—The trends required to be reported under subparagraph (A) shall include a comparison among different demographic groups, including race (White, African-American, Latino, Native American, and Asian populations), ethnicity, gender, and educational attainment.”