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.
Status:
Expired
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