Sec. 3. Reserve Bank director responsibilities
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The eighth undesignated paragraph of section 4 of the Federal Reserve Act ( 12 U.S.C. 301 ) is amended by inserting after the period at the end of the second sentence the following: The board of directors may not be involved in bank examinations or supervisory processes, including the selection, appointment, and compensation of all Federal reserve bank officers whose primary duties involve supervisory matters, budgetary matters, and any other decisions or deliberations that pertain to supervisory activities. .
The 24th undesignated paragraph of section 4 of the Federal Reserve Act ( 12 U.S.C. 308 ) is amended by inserting No director of a Federal reserve bank may serve more than 2 full terms. after the period at the end of the second sentence.
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