Mid City Times

Washington, D.C. – Chairman Roger Williams (TX-25), head of the House Committee on Small Business, introduced the Federal Reserve Financial Accountability and Transparency Act today. The legislation aims to increase Congressional oversight of the Federal Reserve, specifically regarding the costs of its 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.”

The bill, designated H.R. 8591, would establish new reporting requirements for the Federal Reserve concerning its expenses and research.

Congressman Roger Williams serves as Chairman of the House Small Business Committee and is a member of the House Financial Services Committee. He represents Texas's 25th Congressional District.

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