summary
Introduced
01/03/2019
01/03/2019
In Committee
01/03/2019
01/03/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To 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. This bill establishes requirements regarding audits of certain financial agencies performed by the Government Accountability Office (GAO). Specifically, the bill directs the GAO to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.
AI Summary
This bill, the Federal Reserve Transparency Act of 2019, establishes requirements for auditing the Federal Reserve System by the Government Accountability Office (GAO). Specifically, the bill directs the GAO to complete an audit of the Federal Reserve Board and Federal Reserve banks within 12 months. It also allows the GAO to audit the Federal Reserve Board and banks with respect to international financial transactions, monetary policy deliberations and decisions, transactions made by the Federal Open Market Committee, and communications among Federal Reserve officials. The bill also removes certain limitations on the GAO's auditing authority over the Federal Reserve.
Committee Categories
Government Affairs
Sponsors (103)
Thomas Massie (R)*,
Rick Allen (R),
Justin Amash (LIB),
Don Bacon (R),
Troy Balderson (R),
Jim Banks (R),
Andy Biggs (R),
Gus Bilirakis (R),
Mike Bost (R),
Mo Brooks (R),
Ken Buck (R),
Tim Burchett (R),
Michael Burgess (R),
Bradley Byrne (R),
Ken Calvert (R),
Buddy Carter (R),
John Carter (R),
Steve Chabot (R),
Ben Cline (R),
Michael Cloud (R),
Tom Cole (R),
Rick Crawford (R),
Warren Davidson (R),
Peter DeFazio (D),
Scott DesJarlais (R),
Jeff Duncan (R),
Tom Emmer (R),
Ron Estes (R),
Brian Fitzpatrick (R),
Chuck Fleischmann (R),
Jeff Fortenberry (R),
Virginia Foxx (R),
Tulsi Gabbard (D),
Matt Gaetz (R),
Mike Gallagher (R),
Bob Gibbs (R),
Louie Gohmert (R),
Paul Gosar (R),
Tom Graves (R),
Mark Green (R),
Morgan Griffith (R),
Glenn Grothman (R),
Brett Guthrie (R),
James Hagedorn (R),
Andy Harris (R),
Jaime Herrera Beutler (R),
Jody Hice (R),
George Holding (R),
Richard Hudson (R),
Duncan Hunter (R),
Will Hurd (R),
Bill Johnson (R),
Walter Jones (R),
Jim Jordan (R),
John Katko (R),
Mike Kelly (R),
Steve King (R),
Doug LaMalfa (R),
Doug Lamborn (R),
Bob Latta (R),
Kenny Marchant (R),
Roger Marshall (R),
Brian Mast (R),
Tom McClintock (R),
Cathy McMorris Rodgers (R),
Mark Meadows (R),
John Moolenaar (R),
Alex Mooney (R),
Markwayne Mullin (R),
Dan Newhouse (R),
Ralph Norman (R),
Pete Olson (R),
Steven Palazzo (R),
Gary Palmer (R),
Scott Perry (R),
Bill Posey (R),
John Ratcliffe (R),
Denver Riggleman (R),
David Roe (R),
David Rouzer (R),
Chip Roy (R),
Dutch Ruppersberger (D),
John Rutherford (R),
Kurt Schrader (D),
David Schweikert (R),
F. James Sensenbrenner (R),
Adrian Smith (R),
Darren Soto (D),
Ross Spano (R),
Chris Stewart (R),
Steve Stivers (R),
Van Taylor (R),
William Timmons (R),
Mike Turner (R),
Tim Walberg (R),
Jackie Walorski (R),
Daniel Webster (R),
Brad Wenstrup (R),
Roger Williams (R),
Joe Wilson (R),
Rob Wittman (R),
Ron Wright (R),
Ted Yoho (R),
Last Action
Referred to the House Committee on Oversight and Reform. (on 01/03/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/24/all-info | 01/05/2019 |
| BillText | https://www.congress.gov/116/bills/hr24/BILLS-116hr24ih.pdf | 01/09/2019 |
| Bill | https://www.congress.gov/116/bills/hr24/BILLS-116hr24ih.pdf.pdf | 01/09/2019 |
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