A bill to promote further the accountability of the Federal Reserve System.

Amends the Federal Reserve Act to direct the chairman of the Federal Reserve Board to submit a report to specified Congressional committees on each instance when the Board of Governors of the Federal Reserve System, its officers, or its employees, and the Board of Directors of the Federal Reserve banks, their officers or employees have communicated with officers or employees of any institution subject to the regulatory authority of the Federal Reserve System to influence legislative activity affecting the Federal Reserve System.