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Financial Regulators Transparency: Increased Oversight of the Fed and Key Agencies

This law aims to boost the transparency and accountability of major financial regulatory bodies, including the Federal Reserve (Fed). It subjects Federal Reserve Banks to the Freedom of Information Act (FOIA) and grants Congress prioritized, fee-free access to supervisory and ethics-related information from agencies like the Fed, CFPB, and SEC.
Key points
Federal Reserve Banks must now comply with the Freedom of Information Act (FOIA) and federal record-keeping requirements.
Congress gains prioritized, fee-free access to sensitive information, including ethics records and internal investigations, from the Fed and other financial regulators.
The Inspector General overseeing the Fed and the Consumer Financial Protection Bureau (CFPB) will now be appointed by the President.
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Expired
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Additional Information
Print number: 118_S_1160
Sponsor: Sen. Tillis, Thomas [R-NC]
Process start date: 2023-03-30
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Regulators Transparency Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1160.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-30.

What are the main provisions?

Key points include:

  • Federal Reserve Banks must now comply with the Freedom of Information Act (FOIA) and federal record-keeping requirements.
  • Congress gains prioritized, fee-free access to sensitive information, including ethics records and internal investigations, from the Fed and other financial regulators.
  • The Inspector General overseeing the Fed and the Consumer Financial Protection Bureau (CFPB) will now be appointed by the President.
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 Sen. Tillis, Thomas [R-NC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy Courts and Law