To amend the Federal Reserve Act to expand the opportunity for private enterprise to compete with the Board of Governors of the Federal Reserve System in the provision of check-clearing and other services, and for other purposes.
Federal Reserve Free Enterprise Act - Amends the Federal Reserve Act to specify new Federal Reserve bank services to be covered by a statutory fee schedule. Directs the Board of Governors of the Federal Reserve Bank (the Board) to publish the revised schedule.
Requires the Board, upon a competitor's request, to publish the price of service components.
Amends Federal law to instruct the Comptroller General to conduct an annual audit of the Board and the Federal reserve banks to determine compliance with fee establishment requirements.
Mandates an annual audit report to the Congress.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Domestic and International Monetary Policy.
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