S. 2327: Federal Reserve Transparency Act of 2025
The Federal Reserve Transparency Act of 2025 aims to enhance the auditing and transparency of the Federal Reserve System, which includes the Board of Governors of the Federal Reserve and the Federal Reserve banks. Here are the main provisions of the bill:
Audit Requirements
The bill mandates that the Comptroller General of the United States conduct a comprehensive audit of the Federal Reserve and its banks within one year after the bill is enacted. This audit will evaluate the financial activities and practices of the Federal Reserve.
Reporting Obligations
Once the audit is completed, the Comptroller General must submit a report to Congress within 90 days. This report will:
- Detail the findings and conclusions from the audit.
- Include recommendations for any necessary legislative or administrative actions based on the audit results.
Repeal of Certain Limitations
The bill includes provisions to repeal certain existing limitations on audits of the Federal Reserve. Specifically, it plans to modify specific legal statutes to ensure that the audit process can be more thorough and less restricted than it currently is.
Technical Amendments
The Federal Reserve Transparency Act also proposes various technical amendments to existing laws, clarifying and adjusting sections related to the Federal Reserve’s operations and interaction with audit processes.
Goals of the Bill
The overarching goal of the bill is to increase transparency in how the Federal Reserve operates, particularly regarding its financial decisions and their implications on the economy. By ensuring that the Federal Reserve is subject to regular audits, proponents of the bill argue that it could lead to a clearer understanding of the central bank's activities.
Relevant Companies
- JPM (JPMorgan Chase & Co.): As one of the largest banks in the U.S., JPMorgan may be impacted by any changes in Federal Reserve policies resulting from the audit findings.
- BAC (Bank of America Corporation): Similar to JPMorgan, Bank of America could be directly affected by adjustments to economic policies prompted by the Federal Reserve.
- C (Citigroup Inc.): Changes in Federal Reserve transparency and policies may also influence Citigroup’s operations and strategies.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
7 bill sponsors
Actions
2 actions
| Date | Action |
|---|---|
| Jul. 17, 2025 | Introduced in Senate |
| Jul. 17, 2025 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Corporate Lobbying
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