Federal Reserve banks could not offer accounts, services, or digital dollars directly to individuals. Any future central bank digital currency would need a different setup, such as working through banks or payment companies.
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A bill to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, and for other purposes. is a Senate bill in Congress.
Who this affects: This bill mainly affects people who might one day use a digital dollar or a personal account connected directly to the Federal Reserve. It also affects the Federal Reserve, because it would set a clear legal limit on direct service to individuals. Banks, credit unions, and payment companies could be affected because the bill keeps them in the middle of most consumer banking relationships.
Why this matters: This bill matters because it would shape how a future U.S. digital dollar could reach people. Today, the United States does not have a CBDC. If one is created later, this bill would stop the Federal Reserve from giving it directly to individuals. That would keep the Fed focused on working through banks, financial companies, the government, and markets instead of serving people as customers.
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
