H. R. 146 seeks to change the Federal Reserve Act by stopping Federal reserve banks from paying interest on extra reserves, which are the surplus funds banks store at the Federal Reserve beyond what they are required to keep. This bill proposes amendments to clarify that...
Simple Explanation
Imagine a piggy bank where banks keep some of their money for safekeeping. H. R. 146 wants to stop giving banks a reward for putting in extra money beyond what's needed in this piggy bank.