Bipartisan Legislation Introduced to Advance Fed Accountability
Senators Thom Tillis (R-NC) and Elizabeth Warren (D-MA) led a bipartisan group of Senators to introduce legislation titled the “Financial Regulators Transparency Act.” This legislation, if passed, would subject regional Federal Reserve banks to Freedom of Information Acts (FOIA) requests and aims to provide some members of Congress with the right to request supervisory information. Additionally, the bill would make the Fed Inspector General a Senate-confirmed position. The legislation comes as regional Fed Banks are facing increased scrutiny in the wake of recent bank failures. Read more.