Abolishment of the Federal Reserve Board and Federal reserve banks, repeal of the Federal Reserve Act, and liquidation of assets.
The Federal Reserve Board Abolition Act aims to abolish the Board of Governors of the Federal Reserve System and each Federal reserve bank one year after enactment. It also repeals the Federal Reserve Act at the same time. The act mandates the liquidation of assets by the Director of the Office of Management and Budget, with proceeds transferred to the Treasury. The Secretary of the Treasury assumes all liabilities, including retirement benefits for former employees.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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