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Financial Transparency Act: Easier Access to Financial Data

This act aims to make financial data reported by companies to regulatory agencies more accessible. It will make information easier to search and analyze, which can help citizens better understand the financial market and make informed investment decisions. The act does not introduce new reporting requirements, but only changes how existing data is presented.
Key points
All public financial data reported to government agencies will be available in easily searchable and machine-readable formats.
This will facilitate the analysis of financial data by citizens, investors, and companies, increasing market transparency.
Agencies like the Treasury Department, SEC, FDIC, OCC, BCFP, Federal Reserve, and NCUA will need to adapt their systems to new data standards.
The act aims to reduce regulatory burdens for companies by harmonizing reporting standards, while enhancing accountability.
No new information will be required to be reported; only existing data will be presented in a new format.
article Official text account_balance Process page
VOTING RESULTS
2021-10-25
95%
For 400
Against 19
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_2989
Sponsor: Rep. Maloney, Carolyn B. [D-NY-12]
Process start date: 2021-05-04
Voting date: 2021-10-25
Meeting no: 1
Voting no: 333
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Financial 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_2989.

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 2021-05-04.

What are the main provisions?

Key points include:

  • All public financial data reported to government agencies will be available in easily searchable and machine-readable formats.
  • This will facilitate the analysis of financial data by citizens, investors, and companies, increasing market transparency.
  • Agencies like the Treasury Department, SEC, FDIC, OCC, BCFP, Federal Reserve, and NCUA will need to adapt their systems to new data standards.
  • The act aims to reduce regulatory burdens for companies by harmonizing reporting standards, while enhancing accountability.
  • No new information will be required to be reported; only existing data will be presented in a new format.
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

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Maloney, Carolyn B. [D-NY-12].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 400 - 19 (Roll no. 333). (text: CR H5840-5846)

Is this summary verified?

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

CATEGORIES

Economy Informatization