Federal Reserve Transparency Act

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The Federal Reserve Transparency Act of 2015 (H.R. 24) was a bill introduced in the U.S. House of Representatives of the 114th United States Congress by Congressman Thomas Massie (KY-4). It included proposals for a reformed audit of the Federal Reserve System (the "Fed"). The Senate version was introduced by Senator Rand Paul (R-KY). (S. 264).

The original version of the bill, (H.R. 1207), was proposed by now retired Congressman Ron Paul in response to the 2008 financial crisis during the 111th United States Congress. The Senate version was introduced by Bernie Sanders (I-VT). (S. 604). Ron Paul was disappointed with the Senate's version of the bill, stating it "guts the spirit of a truly meaningful audit of the most crucial transactions of the Fed".^[1]

The bill was subsequently brought up in the 112th United States Congress as (H.R. 459) /S. 202^[2][3] and in the 113th United States Congress as (H.R. 24)/S. 209. All three previous attempts passed in United States House of Representatives but died in the US Senate.