Bill > S2327

This bill, known as the Federal Reserve Transparency Act of 2025, requires a comprehensive audit of the Board of Governors of the Federal Reserve System and Federal Reserve banks by the Comptroller General (the head of the Government Accountability Office). The audit must be completed within 12 months of the bill's enactment, and a detailed report must be submitted to Congress within 90 days of the audit's completion. The report will include the Comptroller General's findings, conclusions, and recommendations for potential legislative or administrative actions. The bill removes existing legal restrictions that previously limited the scope of audits of the Federal Reserve, specifically by striking certain provisions in existing law that had constrained the ability to conduct full audits. The legislation aims to increase transparency by ensuring that the report will be made available to congressional leaders, committee chairs, ranking members, and any other members of Congress who request it. The bill modifies technical language in existing statutes related to Federal Reserve operations and reporting, broadening the potential scope of financial and operational reviews of the Federal Reserve's activities.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/2327/all-info