Federal Reserve Transparency Act of 2025
Sponsored By: Senator Rand Paul
Introduced
Summary
This bill would require a comprehensive audit of the Federal Reserve. It would broaden what the audit can examine and force a timed report of findings and recommendations to Congress.
Show full summary
- Congress and oversight: The Comptroller General would be required to finish the audit within 12 months and submit the audit report to Congress within 90 days after completion.
- Federal Reserve institutions and programs: The bill would remove a limitation in section 714 and make special‑purpose vehicles and other entities created under section 13(3) auditable when they were previously excluded.
- Public transparency and accountability: The audit must include findings, conclusions, and recommendations for legislative or administrative action and be made available to key congressional leaders and Members on request.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New audit and disclosure rules for Fed
If enacted, the Comptroller General would have to finish an audit of the Federal Reserve Board and Federal Reserve Banks within 12 months of enactment. Within 90 days after the audit, the Comptroller General would send Congress a report with findings, conclusions, and any recommendations and make the report available to leaders and any Member who asks. The bill would also change Fed audit and disclosure rules by striking subsection (f) of 31 U.S.C. 714, updating cross-references, and redefining "program or facility" to include special purpose vehicles tied to emergency lending. Those other changes could narrow which Fed emergency lending entities and transactions are auditable or publicly disclosed.
Sponsors & CoSponsors
Sponsor
Rand Paul
KY • R
Cosponsors
Rick Scott
FL • R
Sponsored 7/17/2025
Marsha Blackburn
TN • R
Sponsored 7/17/2025
James Risch
ID • R
Sponsored 7/17/2025
Ted Cruz
TX • R
Sponsored 7/17/2025
Todd Young
IN • R
Sponsored 7/17/2025
John Barrasso
WY • R
Sponsored 7/17/2025
Roll Call Votes
No roll call votes available for this bill.
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