S 3566 118th Congress Senate Finance and Financial Sector

Federal Reserve Transparency Act of 2024

Introduced: January 10, 2024 Introduced by: Paul, Rand Republican · Kentucky See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jan 10, 2024

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Jan 10, 2024

Introduced in Senate

Plain-English summary Congressional Research Service

Federal Reserve Transparency Act of 2024

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.

What's happening now January 10, 2024

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees of jurisdiction 1