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Bill > S2232


US S2232

US S2232
Federal Reserve Transparency Act of 2015


summary

Introduced
11/03/2015
In Committee
Crossed Over
Passed
Dead
01/03/2017

Introduced Session

114th Congress

Bill Summary

Federal Reserve Transparency Act of 2015 This bill directs the Government Accountability Office to: (1) commence and complete an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve Banks within 12 months of enactment of this Act, and (2) report findings and conclusions to Congress within 90 days of completing the audit. The bill also repeals certain limitations upon such an audit.

AI Summary

This bill, titled the Federal Reserve Transparency Act of 2015, mandates that the Government Accountability Office (GAO), led by the Comptroller General of the United States, conduct a comprehensive audit of the Board of Governors of the Federal Reserve System and the Federal Reserve Banks. This audit must be completed within 12 months of the bill's enactment, and the GAO is required to report its findings and conclusions to Congress within 90 days of finishing the audit, making the report available to all members of Congress. The bill also repeals certain existing limitations on such audits, aiming to increase transparency regarding the Federal Reserve's operations.

Sponsors (27)

Last Action

Motion to proceed to consideration of measure withdrawn in Senate. (consideration: CR S63) (on 01/12/2016)

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