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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.
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95%
VOTING RESULTS
2021-10-25
For 400
Against 19
Abstain 0
Full voting results open_in_new
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Status:
Expired
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Additional Information
Financial Transparency Act of 2021
Print number: 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
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Financial Transparency Act: Easier Access to Financial Data

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is 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.

Analysis and Potential Impact of HR 2989

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Economy Informatization