(Washington, D.C.) – Today, an amendment
co-sponsored by U.S. Senator Patty Murray (D-WA) to audit the Federal Reserve
was included as part of Wall Street Reform legislation. The amendment,
which passed by a vote of 96-0, requires increased oversight over the Federal
Reserve, providing more transparency and accountability into its actions,
especially those new programs created to assist companies in response to the
financial crisis.
“Americans deserve to know how their money is
being spent,” said Senator Murray. “This amendment means the Federal Reserve can no
longer spend taxpayer dollars in secrecy and will be held accountable for their
dealings with Wall Street.”
The amendment Senator Murray voted to support will
give the Government Accountability Office (GAO) the authority to perform a full
audit on the emergency actions of the Federal Reserve from the start of the
financial crisis in 2007, allowing every American to see which companies received
assistance.
The GAO will make the findings of their research
available online.
The amendment that passed today was introduced by
Senators Bernie Sanders (I-VT) and Chris Dodd (D-CT) and co-sponsored by
Senator Murray.
Senator Murray has said that increasing oversight is one of the core
principles in strong Wall Street Reform legislation that she is working to pass
to hold Wall Street accountable and protect Washington families.
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