Federal Reserve Transparency Act of 2025

This proposal would require a full audit of the Federal Reserve and all Federal Reserve Banks. The Government Accountability Office (the Comptroller General) must finish the audit within 12 months of the law taking effect. After the audit, a report with findings and any recommendations must be sent to Congress within 90 days and shared with congressional leaders and any Member who asks for it .

It also removes some limits that previously restricted what could be audited and updates related laws so the audit can be more complete and clear. These changes adjust language in federal law and the Federal Reserve Act to align with the broader audit and information-sharing rules .

• Key points

  • Who is affected:
    • The Federal Reserve Board and the 12 Federal Reserve Banks; Congress; the Government Accountability Office (GAO) .
  • What changes:
    • Requires a full GAO audit of the Federal Reserve System; removes certain limits on audits; updates related legal references for consistency .
  • When:
    • Audit due within 12 months of enactment; report due to Congress within 90 days after the audit is finished .