Federal Reserve Transparency Act

The Federal Reserve Transparency Act is a series of bills introduced at various times in the U.S. House of Representatives and Senate since 2009 by Congressmen Ron Paul, Bernie Sanders, Paul Broun, and Thomas Massie. It included proposals for a reformed audit of the Federal Reserve System (the "Fed").

The original version of the bill, (H.R. 1207), was proposed by now retired Congressman Ron Paul in response to the 2008 financial crisis during the 111th United States Congress. The Senate version was introduced by Bernie Sanders (I-VT). (S. 604). Ron Paul was disappointed with the Senate's version of the bill, stating it "guts the spirit of a truly meaningful audit of the most crucial transactions of the Fed".

The bill was subsequently brought up in the 112th United States Congress as (H.R. 459) /S. 202 and in the 113th United States Congress as (H.R. 24)/S. 209. All three previous attempts passed in the House of Representatives but died in the Senate.

This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.