S. 264: Federal Reserve Transparency Act of 2015

114th Congress · introduced 2015-01-27 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2015-01-27 · official record
Who proposed it: Sen. Paul, Rand [R-KY] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Federal Reserve Transparency Act of 2015

Plain summary

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.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

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What does this mean? (plain words)

Official text

Federal Reserve Transparency Act of 2015

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Paul, Rand [R-KY] · 34 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

John Barrasso (R-WY), John Boozman (R-AR), Bill Cassidy (R-LA), John Cornyn (R-TX), Mike Crapo (R-ID), Ted Cruz (R-TX), Chuck Grassley (R-IA), James Lankford (R-OK), Mike Lee (R-UT), Mitch McConnell (R-KY), Jerry Moran (R-KS), Lisa Murkowski (R-AK), James E. Risch (R-ID), Tim Scott (R-SC), John Thune (R-SD), Shelley Moore Capito (R-WV), Mazie K. Hirono (D-HI), Steve Daines (R-MT), Dan Sullivan (R-AK)

Sponsor's campaign money: Sen. Paul, Rand [R-KY] reported raising $4.6 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s264.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>

Record fed-us-cong114-s264 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114