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Full Federal Reserve Audit: Increased Transparency of Public Finances.

This act mandates a full audit of the Federal Reserve, the central bank of the U.S., within 12 months. The audit findings will be reported to Congress and made public, aiming to increase the transparency of the institution's operations. This will provide citizens with better insight into how the nation's finances are managed.
Key points
Requires a full audit of the Federal Reserve by an independent body (Comptroller General) within one year.
Audit results will be publicly available, increasing oversight of the central bank's activities.
Removes previous limitations on Federal Reserve audits, allowing for a broader scope of review.
article Official text account_balance Process page
Expired
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No votes cast
Additional Information
Print number: 117_HR_24
Sponsor: Rep. Massie, Thomas [R-KY-4]
Process start date: 2021-01-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Federal Reserve Transparency Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_24.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-01-04.

What are the main provisions?

Key points include:

  • Requires a full audit of the Federal Reserve by an independent body (Comptroller General) within one year.
  • Audit results will be publicly available, increasing oversight of the central bank's activities.
  • Removes previous limitations on Federal Reserve audits, allowing for a broader scope of review.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Massie, Thomas [R-KY-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Oversight and Reform.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy