Federal Reserve Transparency Act of 2014
Latest action · Sep 18, 2014 Received in the Senate.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 3, 2013
- Passed HouseSep 17, 2014
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(This measure has not been amended since it was reported to the House on September 16, 2014. The summary of that version is repeated here.)
Federal Reserve Transparency Act of 2014 - Directs the Comptroller General (GAO) to: (1) complete, within 12 months of enactment of this Act, the required audit of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and of the Federal Reserve Banks; and (2) submit to Congress, within 90 days of audit completion, a detailed report of audit findings and conclusions.
Repeals certain limitations placed upon such audit.
Repeals GAO authority to conduct audits of the Federal Reserve Board, a Federal Reserve Bank, or a credit facility pursuant to its determination that they are appropriate for specified assessments of a credit facility or a covered transaction.
Recorded votes 1
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 504 | On Motion to Suspend the Rules and Pass, as Amended | Passed333–92 | Sep 17, 2014 |
Cosponsors 228
Members who signed on, in the order they did. Signatures ran from Jan 4, 2013 to May 8, 2014.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-IA | David Loebsack | Jan 4, 2013 | |
| D-ME | Michael H. Michaud | Jan 4, 2013 | |
| D-NC | Mike McIntyre | Jan 4, 2013 | |
| D-OR | Peter A. DeFazio | Jan 4, 2013 | |
| R-NC | Walter B. Jones | Jan 4, 2013 | |
| R-IL | Aaron Schock | Jan 14, 2013 | |
| R-MS | Alan Nunnelee | Jan 14, 2013 | |
| R-MI | Bill Huizenga | Jan 14, 2013 | |
| R-MO | Blaine Luetkemeyer | Jan 14, 2013 | |
| R-TX | Blake Farenthold | Jan 14, 2013 | |
| R-VA | Bob Goodlatte | Jan 14, 2013 | |
| R-MI | Candice S. Miller | Jan 14, 2013 | |
| D-MN | Collin C. Peterson | Jan 14, 2013 | |
| R-MI | Dave Camp | Jan 14, 2013 | |
| R-TN | David P. Roe | Jan 14, 2013 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Oversight and Government Reform Committee | Referred Jan 3, 2013Markup Jul 24, 2014Reported Sep 16, 2014 |
| House | Financial Services Committee | Referred Jan 3, 2013Discharged Sep 16, 2014 |
Actions 15
Everything that happened, newest first.
- Sep 18, 2014Received in the Senate.
- Sep 17, 2014Considered as unfinished business. (consideration: CR H7635)
- Sep 17, 2014Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 333 - 92 (Roll no. 504). (text: CR 9/16/2014 H7588)
- Sep 17, 2014Motion to reconsider laid on the table Agreed to without objection.
- Sep 16, 2014Reported (Amended) by the Committee on Oversight and Government Reform. H. Rept. 113-602, Part I.
- Sep 16, 2014Committee on Financial Services discharged.
- Sep 16, 2014Placed on the Union Calendar, Calendar No. 447.
- Sep 16, 2014Mr. Meadows moved to suspend the rules and pass the bill, as amended.
- Sep 16, 2014Considered under suspension of the rules. (consideration: CR H7588-7591)
- Sep 16, 2014DEBATE - The House proceeded with forty minutes of debate on H.R. 24.
- Sep 16, 2014At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- Jul 24, 2014Committee Consideration and Mark-up Session Held.
- Jul 24, 2014Ordered to be Reported (Amended) by Voice Vote.
- Jan 3, 2013Introduced in House
- Jan 3, 2013Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House · Extensions | Debate and remarks E1430Recorded votes H7635enact | Maxine Waters D-CA | Sep 17, 2014 |
| House | Debate and remarks H7539, H7588–H7591Text printed H7588 | Elijah E. Cummings D-MD, Lamar Smith R-TX, Mark Meadows R-NC, Paul C. Broun R-GA, Thomas Massie R-KY | Sep 16, 2014 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- Sep 12, 2014H.R. 24, Federal Reserve Transparency Act of 2013As ordered reported by the House Committee on Oversight and Government Reform on July 24, 2014
Constitutional authority
The sponsor’s statement, as printed in the page H33.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 113-89 | LEGISLATION TO REFORM THE FEDERAL RESERVE ON ITS 100–YEAR ANNIVERSARY112 pages | Financial Services Committee | Jul 10, 2014 |
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R42079 | Federal Reserve: Oversight and Disclosure Issues Archived | Report | Mar 27, 2017 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 33 | Audit The Fed Act of 2013 | Related bill | Jan 3, 2013 |
| S 209 | A bill to require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States, and for other purposes. | Related bill | Feb 7, 2013 |
Titles 4
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States, and for other purposes.
- Short Titles as Introduced
- Federal Reserve Transparency Act of 2013
- Short Titles as Reported to House
- Federal Reserve Transparency Act of 2014
- Short Titles as Passed House
- Federal Reserve Transparency Act of 2014
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Sep 18, 2014Received in Senate
- Sep 17, 2014Engrossed in House
- Sep 16, 2014Reported in House
- Jan 3, 2013Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
