Federal Reserve Transparency Act of 2015

Hozzl · 2023-01-11T13:29:11Z

Explore the details of House Bill 24 Federal Reserve Transparency Act of 2015 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

1/11/2023, 1:29 PM

Congressional Summary of HR 24

Federal Reserve Transparency Act of 2015

(Sec. 2) This bill directs the Government Accountability Office to: (1) complete, within 12 months of enactment, the required audit of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and of the Federal Reserve Banks; and (2) submit to Congress, within 90 days of audit completion, a detailed report of audit findings and conclusions.

The bill repeals certain limitations placed upon audits of the Federal Reserve Board and Federal Reserve banks concerning: (1) international financial transactions, (2) deliberations or actions on monetary policy matters, (3) transactions made under the direction of the Federal Open Market Committee, or (4) a part of a discussion or communication among members of the Federal Reserve Board and officers and employees of the Federal Reserve System related to these matters.

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Current Status of Bill HR 24

Bill HR 24 is currently in the status of Bill Introduced since January 6, 2015. Bill HR 24 was introduced during Congress 114 and was introduced to the House on January 6, 2015. Bill HR 24's most recent activity was Placed on the Union Calendar, Calendar No. 536. as of July 14, 2016

Bipartisan Support of Bill HR 24

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

201

Democrat Cosponsors

Republican Cosponsors

191

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 24

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

Accounting and auditingBank accounts, deposits, capitalCongressional oversightFederal Reserve SystemGovernment studies and investigationsHousing finance and home ownership

Alternate Title(s) of Bill HR 24

Federal Reserve Transparency Act of 2015To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States, and for other purposes.Federal Reserve Transparency Act of 2015Federal Reserve Transparency Act of 2015

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