March 22, 2024

Freedom of Information Act Request on CBDC Authority

ICBA filed a Freedom of Information Act request for federal records related to whether legislative changes are required to issued a U.S. central bank digital currency.

A 2022 executive order from President Joe Biden directed the U.S. attorney general, Treasury secretary, and Federal Reserve chairman to report on whether congressional action is needed for the U.S. to issue a CBDC, should it be deemed appropriate and in the national interest. That report has never been made public.