Rep. Williams Introduces Federal Reserve Financial Accountability and Transparency Act

Washington, D.C. - Today, Congressman Roger Williams (TX-25), introduced the Federal Reserve Financial Accountability and Transparency Actto increase Congressional oversight of the Federal Reserve. This bill requires reporting on spending and staffing by activity, identification of top research areas, engagements with international banking organizations, and disclosure of costs for new regulations.

"For too long, burdensome regulations have been piled onto our financial institutions without considering the impacts," said Chairman Roger Williams."It is time that Congress has increased oversight and transparency over the Federal Reserve's operations and expenses. Our financial regulators should be focusing on the health and safety of the financial sector and promoting U.S. interests globally."

The American Bankers Association is a supporting organization.

Read the bill text here.

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Congressman Roger Williams is the Chairman of the House Small Business Committee and member of the House Financial Services Committee. He proudly represents the 25th Congressional District of Texas.