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H.R. 459: Federal Reserve Transparency Act of 2011
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 before the end of 2012, and for other purposes.
Overview:
This bill is in the first step in the legislative process. Introduced bills and resolutions first go to committees that deliberate, investigate, and revise them before they go to general debate. The majority of bills and resolutions never make it out of committee. [Last Updated: May 26, 2011 6:11AM]
Last Action: Jan 26, 2011: Referred to the House Committee on Oversight and Government Reform.
Summaries:
Congressional Research Service Summary
The following summary was written by the Congressional Research Service, a well-respected nonpartisan arm of the Library of Congress. GovTrack did not write and has no control over these summaries.
1/26/2011--Introduced.
Federal Reserve Transparency Act of 2011 - Directs the Comptroller General to complete, before the end of 2012, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress. Repeals specified limitations on such an audit.
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