1. Short title This Act may be cited as the Federal Reserve Accountability Act of 2023 . 2. Appointment of general counsel Subsection (l) of section 11 of the Federal Reserve Act ( 12 U.S.C. 248 ) is amended by inserting The President shall appoint a general counsel for the Board, by and with the advice and consent of the Senate. Sections 3345 through 3349b of title 5, United States Code, shall not apply to the general counsel. after the period at the end of the first sentence. 3. Appointment of Federal Reserve bank presidents (a) In general The fifth paragraph of the fourth unenumerated paragraph of section 4 of the Federal Reserve Act ( 12 U.S.C. 341 ) is amended— (1) in the first sentence, by striking a president, vice presidents, and inserting vice presidents ; (2) in the second sentence, by striking Class B and Class C directors of the bank, with the approval of the Board of Governors of the Federal Reserve System and inserting President of the United States, by and with the advice and consent of the Senate ; (3) by striking the third sentence and inserting The first vice president of the bank shall be appointed by the Class B and Class C board of directors of the bank for a term of 5 years, and shall, in the absence or disability of the president or during a vacancy in the office of the president, serve as chief executive officer of the bank, until a nominee for president is confirmed by the Senate or the President of the United States appoints an acting president under sections 3345 through 3349b of title 5, United States Code. ; (4) in the fourth sentence, by striking the president or