Office of Financial Research Accountability Act of 2015

Bill 114 hr 3738, also known as the Office of Financial Research Accountability Act of 2015, aims to increase transparency and accountability within the Office of Financial Research (OFR). The OFR was established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide financial data and analysis to help policymakers make informed decisions.

The main provisions of the bill include requiring the OFR to submit an annual report to Congress detailing its activities, budget, and performance measures. This report would also include an assessment of the OFR's effectiveness in fulfilling its mission and recommendations for improvement.

Additionally, the bill calls for the establishment of an independent advisory committee to provide oversight and guidance to the OFR. This committee would be composed of experts in finance, economics, and data analysis, and would meet regularly to review the OFR's work and provide feedback. Overall, the Office of Financial Research Accountability Act of 2015 seeks to ensure that the OFR is operating efficiently and effectively, and that it is fulfilling its mandate to provide accurate and timely financial information to policymakers. By increasing transparency and oversight, the bill aims to improve the OFR's performance and ultimately strengthen the stability of the financial system.