Legislation
Various pieces of legislation have shaped the Fed’s structure and policy mandates.
Jimmy Carter signs the Humphrey-Hawkins Bill, October 27, 1978 (via Jimmy Carter Library and National Archives and Records Administration, NAID 182117)
Last updated October 12, 2023
Essays in This Theme
Bank Holding Company Act - In 1956, Congress gave the Fed increased oversight of the banking industry
Banking Act of 1932 - The Banking Act of 1932 reformed the Federal Reserve’s role providing credit during economic downturns.
Banking Act of 1933 - Commonly called Glass-Steagall, the Act was widely debated before its enactment
Banking Act of 1935 - This legislation restructured the Fed in both cosmetic and consequential ways
Community Reinvestment Act - The Federal Reserve and other federal banking agencies have implemented the CRA since its passage in 1977
Depository Institutions Deregulation and Monetary Control Act - The 1980 Act was one of the most important laws to affect the Fed in its 100-year history
Dodd-Frank Wall Street Reform and Consumer Protection Act - This wide-ranging legislation was signed by President Obama in 2010
Emergency Banking Act - The 1933 law was aimed at restoring public confidence in the nation’s financial system
Employment Act - President Truman signed the Act in 1946 in the aftermath of WWII
Federal Deposit Insurance Corporation Improvement Act - The 1991 Act was intended to address problems in the banking and thrift industries
Federal Reserve Act Signed Into Law - The Federal Reserve Act became law in December 1913, culminating three years of debate
Federal Reserve Reform Act - This 1977 law was instrumental in shaping the current Fed
Financial Services Modernization Act of 1999 (Gramm-Leach-Bliley) - The 1999 Act promoted financial integration by repealing parts of the Glass-Steagall Act while giving the Fed new supervisory powers
Full Employment and Balanced Growth Act - Commonly called Humphrey-Hawkins, the 1978 Act set new goals for the nation’s economic policymakers
Garn-St Germain Depository Institutions Act - The 1982 Act aimed to ease pressures on depository institutions as the Fed acted to curb inflation
Gold Reserve Act - The 1934 law was the culmination of FDR’s controversial gold program
Home Ownership and Equity Protection Act of 1994 - HOEPA addresses unfair, deceptive, or abusive mortgage lending practices
McFadden Act - The Fed’s success led to this legislation in 1927, which rechartered the Federal Reserve Banks in perpetuity among other items
National Banking Acts of 1863 and 1864 - The National Banking Acts of 1863 and 1864 marked an important moment in the development of the U.S. banking system.
Riegle-Neal Interstate Banking and Branching Efficiency Act - The 1994 law removed many of the restrictions on bank branching across state lines
