Chairman Williams Introduces Legislation to Reign in the Federal Reserve

Washington, D.C. – Today, Chairman Roger Williams (TX-25), Chairman of the House Committee on Small Business, introduced the Federal Reserve Financial Accountability and Transparency Act, which would increase Congressional oversight of the Federal Reserve, including reporting the costs of their burdensome rulemakings on taxpayers.

“For too long, the Biden administration has piled burdensome regulations 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 competition within our financial system.”

Background:

• H.R. 8591 would create new reporting requirements the Federal Reserve about its expenses and research. 

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.