Summary: H.R.24 — 115th Congress (2017-2018)All Information (Except Text)

Bill summaries are authored by CRS.

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Reported to House without amendment (09/21/2017)

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Federal Reserve Transparency Act of 2017

(Sec. 2) This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks.

In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to: (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.