Federal Reserve Transparency Act of 2025

HR 24, the Federal Reserve Transparency Act of 2025, mandates a comprehensive audit of the Federal Reserve Board and Federal Reserve banks by the Government Accountability Office (GAO) within 12 months of enactment. The bill requires the GAO to submit a detailed report to Congress within 90 days of completing the audit, including findings, conclusions, and recommendations for legislative or administrative action. This audit replaces current limitations on reviewing Federal Reserve operations, particularly regarding entities like special purpose vehicles not previously subject to standard audits. The bill directly affects the Federal Reserve System by increasing congressional oversight of its financial activities and reporting mechanisms.