OH SCR32

Urges Congress to pass the "Federal Reserve Transparency Act of 2012" (H.R. 459) to increase Federal Reserve System transparency and accountability.

Asserts the Federal Reserve is not fulfilling its mandate to promote a healthy U.S. economy conducive to job growth and financial security.

Contends lack of Federal Reserve transparency prevents public assessment of the Fed's impact on the nation's economic crisis.

States Federal Reserve actions have compromised the dollar's integrity, contributed to national debt increases, and damaged U.S. standing globally.

Requires the Comptroller General to audit the Federal Reserve Board of Governors and Federal Reserve banks within twelve months of the Act's enactment by waiving existing audit restrictions.