View Full Version : Rep. Tom McMillin introduces resolution to ‘Audit the Fed’

06-17-2014, 05:13 PM
Rep. Tom McMillin introduces resolution to ‘Audit the Fed’

June 17, 2014

Resolution calls on comptroller general to audit the Federal Reserve in effort to create financial transparency at the federal level

Rep. Tom McMillin, R-Rochester Hills, introduced House Resolution 395 last week urging the United States Congress to direct the comptroller general to do a complete and full audit of the Federal Reserve System and the Federal Reserve banks, commonly referred to as an effort to “Audit the Fed.”

“Michigan residents deserve accountability and transparency from the federal government,” McMillin said. “The Federal Reserve has operated for far too long behind a cloak of secrecy, while the American economy continues to suffer and fluctuate at the hands of the people working without oversight and in control of the central bank.”

The resolution calls on Congress to direct the comptroller general to not only perform a full audit of the system and the banks, but to ensure that the actions being taken are in the best interest of the people of the United States.

“This issue is very important because the Federal Reserve has such vast authority over the system of banks and financial institutions that control a major portion of the economic operations within the U.S.,” McMillin said. “If things are as they should be, then Congress and the board of governors of the Federal Reserve should have no problem with an audit, which is common practice in every other public and private institution.”

The resolution has been referred to the House Committee on Financial Services.


06-18-2014, 12:32 AM
:cool: where have i seen a news story like this before?