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MI HR0395
Resolution
Status
Passed
11/13/2014
Primary Sponsor
Thomas McMillin
Click for details
AI Summary
- Urges Congress to direct the Comptroller General to conduct a full audit of the Federal Reserve's Board of Governors and federal reserve banks
- Notes that current law restricts audits of the Federal Reserve to cases with written consent and prohibits audits of foreign transactions, monetary policy decisions, discount window operations, and open market operations
- Asserts that Congress must exercise its oversight responsibility to ensure accountability and transparency from the Federal Reserve, a highly influential government institution
- Requires transmission of the resolution to the President of the U.S. Senate, Speaker of the U.S. House of Representatives, and Michigan's congressional delegation
Legislative Description
A resolution to urge the Congress of the United States to direct the Comptroller General to complete a full audit of the Board of Governors of the Federal Reserve System and the federal reserve banks.
Last Action
Adopted
11/13/2014
Committee Referrals
Financial Services6/12/2014
Full Bill Text
No bill text available