This bill, the Federal Reserve Transparency Act of 2025, requires the Comptroller General (the U.S. Government Accountability Office) to complete a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks. The audit must be finished within 12 months after the law is enacted. The bill also changes parts of existing law (section 714 of title 31, U.S. Code, and section 11(s) of the Federal Reserve Act) that limit audits or define what programs or facilities are excluded from audit.
If the bill becomes law, the Comptroller General will review Federal Reserve operations and report the findings to Congress. The report must be provided to key congressional leaders, relevant committee leaders, and any Member of Congress who requests it. The report will describe the audit results and may include recommendations for changes.
No publicly available information on estimated costs or budget effects is included in the bill text or metadata provided.
The bill text directs a full audit and broader availability of audit reports, indicating sponsors want increased review and transparency of the Federal Reserve and its programs.
No publicly available information on objections, opposition arguments, or dissenting views is included in the bill text or metadata provided.