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Congress·In Committee·3 months ago

Senate Bill Would Require Full GAO Audit of the Federal Reserve Within 12 Months

Also known as: Federal Reserve Transparency Act of 2025

Legislative Progress

✓ Filed
Review
Senate
House
President

Impacts

Mixed Impacts(1)
Federal Employee
Neutral

Key Points

  • Requires the Government Accountability Office to do a full audit of the Federal Reserve’s main board and the regional Reserve banks.
  • Sets a deadline: the audit must be finished within 12 months after the bill becomes law.
  • After the audit, the Comptroller General must send Congress a detailed report within 90 days and share it broadly with members of Congress who ask.
  • Removes some current legal limits that block parts of the Federal Reserve from being audited, aiming to open more of its work to outside review.
  • Could affect public trust and future decisions about interest rates and emergency lending, depending on what the audit finds.
EconomyConsumer Protection

Milestones

2 milestones3 actions
Dec 11, 2025Senate

Committee on Homeland Security and Governmental Affairs. Hearings held.

Jul 17, 2025Senate

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Jul 17, 2025

Introduced in Senate

What Happens Next

Projected impacts based on AI analysis

Soon after the bill is enacted

GAO begins the required “full audit” of the Federal Reserve Board and regional Reserve Banks

More records and decisions can be reviewed, including areas that were previously harder to audit; you may see more detailed questions raised in public debate

Related News

2 articles
NKyTribune·7 months ago

Sen. Rand Paul reintroduces legislation to require audit of Federal Reserve, increase Congressional oversight

Senator Rand Paul has reintroduced the Federal Reserve Transparency Act to require a full audit of the Fed's operations. The bill mandates the GAO to conduct a complete audit of the Board of Governors and Reserve Banks within one year and report findings to Congress within 90 days.

CR=
Coin World·12 months ago

Lawmakers call for an end to the Federal Reserve System

Rep. Thomas Massie reintroduced H.R. 24, the Federal Reserve Transparency Act of 2025, to audit the Federal Reserve. The bill requires the Comptroller General to conduct a full examination of the Board of Governors and Federal Reserve Banks, aiming to provide insight into secretive practices.

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Source Information

Document Type

Congressional Bill

Official Title

Federal Reserve Transparency Act of 2025

Bill NumberS 2327
Congress119th Congress
ChamberSenate
Latest ActionCommittee on Homeland Security and Governmental Affairs. Hearings held.

Sponsor

Cosponsors

(6)
R: 6

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.