S. 264 · 114th Congress
Federal Reserve Transparency Act of 2015
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PaulSponsor34 cosponsors · 1 D, 33 R
R
Ayotte
RB
R
Blunt
RB
R
Burr
JB
R
Boozman
JB
R
Barrasso
MC
R
Crapo
SC
R
Capito
JC
R
Cornyn
BC
R
Cassidy
TC
R
Cruz
CG
R
Grassley
CG
R
Gardner
OH
R
Hatch
DH
R
Heller
MH
D
Hirono
JI
R
Isakson
MK
R
Kirk
JL
R
Lankford
ML
R
Lee
MM
R
McConnell
JM
R
Moran
LM
R
Murkowski
RP
R
Portman
DP
R
Perdue
JR
R
Risch
MR
R
Rubio
TS
R
Scott
JT
R
Thune
PT
R
Toomey
DV
R
Vitter
JS
R
Sessions
SD
R
Daines
PR
R
Roberts
DS
R
Sullivan30 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill directs the Government Accountability Office (GAO) to: (1) commence and complete an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve Banks within 12 months of enactment of this Act, and (2) report findings and conclusions to Congress within 90 days of completing the audit.
What it does: CRS summary · Introduced in Senate · Jan 27, 2015
Federal Reserve Transparency Act of 2015
This bill directs the Government Accountability Office (GAO) to: (1) commence and complete an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve Banks within 12 months of enactment of this Act, and (2) report findings and conclusions to Congress within 90 days of completing the audit.
The bill also repeals certain limitations upon such an audit.
GAO shall audit and report on the review of loan files of homeowners in foreclosure in 2009 or 2010, required as part of the enforcement actions taken by the Board against supervised financial institutions.
Audit contents shall include: (1) the guidance given by the Board to independent consultants retained by the supervised financial institutions regarding procedures to be followed in conducting the file reviews; (2) the factors considered by independent consultants when evaluating loan files and the results obtained pursuant to those reviews; and (3) the determinations made by such consultants regarding the nature and extent of financial injury sustained by each homeowner, as well as the level and type of remediation offered.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Federal Reserve Transparency Act of 2015
Latest action (Jan 27, 2015): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jan 27, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.