Bill · H.R. 3173· House(119-HR-3173)
Federal Reserve Financial Accountability and Transparency Act
- Introduced
- 5/1/2025
- Last activity
- 5/1/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- Roger Williams
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill is known as the Federal Reserve Financial Accountability and Transparency Act. It requires the Board of Governors of the Federal Reserve System to add specific new requirements to their annual report. The added requirements include details on annual expenditures and full-time equivalent employees for each Federal reserve bank across several categories. It also requires reporting on the three most important areas of research and the annual expenditures dedicated to each proposed or finalized rule, guidance, and policy statement. These amendments will take effect two years after the date of enactment.
Yes
Does this make what the government does easier for the public to see?+8
The bill mandates detailed public reporting of expenditures and staffing within the Federal Reserve.
Does this make the government pay for what it commits to?+2
Increased transparency in Federal Reserve spending promotes greater fiscal accountability.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Section 2: This section requires the annual report to include annual expenditures and full-time equivalent employees for each Federal reserve bank regarding supervision activities, legal functions, operations, financial stability, administrative functions, economic research, and international engagement. This helps hold officials accountable by showing the public how resources are spent across these specific areas.
-
Section 2: The bill mandates the reporting of the three most important areas of research, measured by annual expenditures and employees, for the Board of Governors and each Federal reserve bank. This provides clear information to the people on where research efforts and taxpayer-related funds are heavily concentrated.
-
Section 2: This provision requires reporting on the annual expenditures dedicated to each rule, guidance, and policy statement that was proposed or finalized in the previous year. This gives citizens a transparent look at the exact financial cost of creating and finalizing specific regulatory policies.
Potential Negative Impacts for People
- Section 2: The text of the bill does not explicitly list any negative consequences, burdens, or harms for individuals or groups of people in the United States.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+8
- Economy And Finance
- Improves Fiscal Responsibility+2
- 5/1/2025
- Referred to the House Committee on Financial Services.
- Introduced in House