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HR 459 112th Congress House Finance and Financial Sector Accounting and auditing Bank accounts, deposits, capital Congressional oversight Federal Reserve System Government studies and investigations Housing finance and home ownership

Federal Reserve Transparency Act of 2012

Introduced: June 5, 2012 See on congress.gov
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 22 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 1, 2013
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 580.
Dec 30, 2012
Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Jul 26, 2012
Received in the Senate.
Jul 25, 2012
The title of the measure was amended. Agreed to without objection.
Jul 25, 2012
Motion to reconsider laid on the table Agreed to without objection.
Jul 25, 2012
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 327 - 98 (Roll no. 513).
Jul 25, 2012
Considered as unfinished business. (consideration: CR H5224-5225)
Jul 24, 2012
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Jul 24, 2012
DEBATE - The House resumed debate on H.R. 459, as amended.
Jul 24, 2012
DEBATE - The House proceeded with forty minutes of debate on H.R. 459.
Jul 24, 2012
Considered under suspension of the rules. (consideration: CR H5150-5162; text of measure as reported in House: CR H5150)
Jul 24, 2012
Mr. Issa moved to suspend the rules and pass the bill, as amended.
Jul 18, 2012
Placed on the Union Calendar, Calendar No. 441.
Jul 18, 2012
Committee on Financial Services discharged.
Jul 17, 2012
Referred sequentially to the House Committee on Financial Services for a period ending not later than July 18, 2012 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of that committee pursuant to clause 1(h) of rule X.
Jul 17, 2012
Reported (Amended) by the Committee on Oversight and Government Reform. H. Rept. 112-607, Part I.
Jun 27, 2012
Ordered to be Reported (Amended) by Voice Vote.
Jun 27, 2012
Committee Consideration and Mark-up Session Held.
Feb 8, 2011
Referred to the Subcommittee on Government Organization, Efficiency, and Financial Management .
Jan 26, 2011
Referred to the House Committee on Oversight and Government Reform.
Jan 26, 2011
Sponsor introductory remarks on measure. (CR E128)
Jan 26, 2011
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Jul 25, 2012 House · vote #513 On Motion to Suspend the Rules and Pass, as Amended Passed 327–98 See who voted →
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 Plain-English summary Congressional Research Service

(This measure has not been amended since it was reported to the House on July 17, 2012. The summary of that version is repeated here.)

Federal Reserve Transparency Act of 2012 - Directs the Comptroller General to: (1) complete, within 12 months of enactment of this Act, the required audit of the Board of Governors of the Federal Reserve System (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.

Repeals certain limitations placed upon such audit.

Instructs the Comptroller General to audit and report on the review of loan files of homeowners in foreclosure in 2009 or 2010, required as part of the enforcement actions taken by the Board against supervised financial institutions. Prescribes audit contents, including: (1) the guidance given by the Board to independent consultants retained by the supervised financial institutions regarding procedures to be followed in conducting the file reviews, (2) the factors considered by independent consultants when evaluating loan files and the results obtained pursuant to those reviews, and (3) the determinations made by such consultants regarding the nature and extent of financial injury sustained by each homeowner as well as the level and type of remediation offered.

What's happening now January 1, 2013

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 580.

 Related & companion bills 2
  • HR 1496 Related bill Federal Reserve Transparency Act
  • S 202 Identical bill Federal Reserve Transparency Act of 2011
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 158
All 158 Democratic 11 Republican 48
ROYCE, ED
· Jul 13, 2012
 D
Schiff, Adam B.
California · Jul 10, 2012
HASTINGS, DOC
· Jul 9, 2012
 D
Pingree, Chellie
Maine · Jul 9, 2012
 D
Doggett, Lloyd
Texas · Jun 27, 2012
 D
Sherman, Brad
California · Jun 27, 2012
 R
Aderholt, Robert B.
Alabama · Jun 26, 2012
Renacci, James
· Jun 26, 2012
REYES, SILVESTRE
· Jun 26, 2012
 R
Sessions, Pete
Texas · Jun 26, 2012
Denham, Jeff
· Jun 21, 2012
Franks, Trent
· Jun 21, 2012
Hensarling, Jeb
· Jun 21, 2012
ROS-LEHTINEN, ILEANA
· Jun 21, 2012
Hunter, Duncan
· Jun 20, 2012
McHenry, Patrick
· Jun 20, 2012
 R
DesJarlais, Scott
Tennessee · Jun 12, 2012
 R
Diaz-Balart, Mario
Florida · Jun 7, 2012
 R
Jordan, Jim
Ohio · Jun 7, 2012
Chandler, Ben
· Jun 6, 2012
Dent, Charles
· Jun 6, 2012
 R
Capito, Shelley Moore
West Virginia · Jun 5, 2012
EMERSON, JO
· Jun 5, 2012
 R
Fleischmann, Charles J. "Chuck"
Tennessee · Jun 5, 2012
Harper, Gregg
· Jun 5, 2012
King, Steve
· Jun 5, 2012
PENCE, MIKE
· May 30, 2012
 R
Rogers, Harold
Kentucky · May 30, 2012
 D
Tonko, Paul
New York · May 30, 2012
 R
Webster, Daniel
Florida · May 10, 2012
 R
Smith, Christopher H.
New Jersey · Apr 19, 2012
MICA, JOHN
· Mar 19, 2012
Conaway, K.
· Feb 27, 2012
 D
Bishop, Sanford D.
Georgia · Feb 15, 2012
 R
Cassidy, Bill
Louisiana · Feb 15, 2012
 R
Crawford, Eric A. "Rick"
Arkansas · Feb 15, 2012
Pearce, Stevan
· Feb 15, 2012
Bishop, Rob
· Feb 14, 2012
UPTON, FRED
· Feb 14, 2012
Black, Diane
· Feb 7, 2012
Schmidt, Jean
· Feb 7, 2012
Poe, Ted
· Feb 3, 2012
BONO MACK, MARY
· Jan 18, 2012
LEWIS, JERRY
· Jan 18, 2012
 R
Amodei, Mark E.
Nevada · Dec 12, 2011
Paulsen, Erik
· Dec 6, 2011
GREEN, GENE
· Nov 2, 2011
WALDEN, GREG
· Nov 2, 2011
 R
Lucas, Frank D.
Oklahoma · Oct 31, 2011
Noem, Kristi
· Oct 13, 2011
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APA
U.S. Congress. (2026). H.R. 459: Federal Reserve Transparency Act of 2012. 112th Congress. Open America. https://openamerica.io/bill/112-HR-459/
MLA
"H.R. 459: Federal Reserve Transparency Act of 2012." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-459/.
Bluebook (legal)
H.R. 459, 112th Cong. (2026), https://openamerica.io/bill/112-HR-459/.
Markdown link
[H.R. 459: Federal Reserve Transparency Act of 2012](https://openamerica.io/bill/112-HR-459/)
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