,,ii  ,cal5d> ,no4 #ab  #aac? ,,congress
  #a/ ,session  ,s4 #bji  ,,9 ,,!       
,,s5ate ,,( ,,! ,,unit$ ,,/ates         
,febru>y #d1 #bjac ,mr4 ,paul 7=        
himself1 ,mr4 ,vitt]1 ,mr4 ,cruz1 ,ms4  
,ayotte1 ,mr4 ,b>rasso1 ,mr4 ,begi*1    
,mr4 ,boozman1 ,mr4 ,burr1 ,mr4         
,*ambliss1 ,mr4 ,coburn1 ,mr4 ,enzi1    
,mr4 ,grassley1 ,mr4 ,hell]1 ,mr4 ,lee1 
,mr4 ,ris*1 ,mr4 ,rob]ts1 ,mr4 ,rubio1  
,mr4 ,cornyn1 ,mr4 ,toomey1 ,mr4 ,hat*1 
,mr4 ,mc,connell1 & ,mr4 ,?une7         
introduc$ ! foll[+ bill2 :i* 0 read !   
fir/ "t  ,febru>y #g1 #bjac ,read !     
second "t & plac$ on ! cal5d>  ,a ,,bill
  ,to require a full audit ( ! ,bo>d (  
,gov]nors ( ! ,f$]al ,res]ve ,sy/em & ! 
,f$]al res]ve banks by ! ,comptroll]    
,g5]al ( ! ,unit$ ,/ates1 & = o!r       
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,f$]al ,res]ve ,transp>5cy 
,act ( #bjac4  #b4 ,audit re=m &        
transp>5cy = ! ,bo>d ( ,gov]nors ( !    
,f$]al ,res]ve ,sy/em  7a7 ,9 g5]al     
,not)/&+ section #gad ( title #ca1      

,unit$ ,/ates ,code1 or any o!r         
provision ( law1 an audit ( ! ,bo>d (   
,gov]nors ( ! ,f$]al ,res]ve ,sy/em & ! 
,f$]al res]ve banks "u subsection 7b7 ( 
su* section #gad %all be complet$ )9 #ab
 mon?s ( ! date ( enactm5t ( ?is ,act4  
7b7 ,report  7#a7 ,9 g5]al ,a report on 
! audit requir$ "u subsection 7a7 %all  
be submitt$ by ! ,comptroll] ,g5]al to !
 ,congress be=e ! end ( ! #ij-;day p]iod
 beg9n+ on ! date on :i* su* audit is   
complet$ & made available to ! ,speak] (
 ! ,h\se1 ! majority & m9ority lead]s ( 
! ,h\se ( ,repres5tatives1 ! majority & 
m9ority lead]s ( ! ,s5ate1 ! ,*airman & 
,rank+ ,memb] ( ! committee & ea*       
subcommittee ( jurisdiction 9 ! ,h\se ( 
,repres5tatives & ! ,s5ate1 & any o!r   
,memb] ( ,congress :o reque/s x4  7#b7  
,cont5ts ,! report "u p>agraph 7#a7 %all
 include a detail$ description ( ! f9d+s
 & conclusion ( ! ,comptroll] ,g5]al )  
respect to ! audit t is ! subject ( !   
report1 toge!r ) su* recomm5dations =   
legislative or adm9i/rative action z !  

,comptroll] ,g5]al may det]m9e to be    
appropriate4  7c7 ,repeal ( c]ta9       
limitations ,subsection 7b7 ( section   
#gad ( title #ca1 ,unit$ ,/ates ,code1  
is am5d$ by /rik+ all aft] 9 writ+44    
7d7 ,te*nical & con=m+ am5dm5t ,section 
#gad ( title #ca1 ,unit$ ,/ates ,code1  
is am5d$ by /rik+ subsection 7f74  #c4  
,audit ( loan file reviews requir$ by   
en=cem5t actions  7a7 ,9 g5]al ,!       
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all conduct an audit ( ! review ( loan 
files ( home[n]s 9 =eclosure 9 #bjji or 
#bjaj1 requir$ z "p ( ! en=cem5t actions
 tak5 by ! ,bo>d ( ,gov]nors ( ! ,f$]al 
,res]ve ,sy/em aga9/ sup]vis$ f9ancial  
in/itutions4  7b7 ,cont5t ( audit ,!    
audit c>ri$ out pursuant to subsection  
7a7 %all consid]1 at a m9imum--  7#a7 ! 
guidance giv5 by ! ,bo>d ( ,gov]nors ( !
 ,f$]al ,res]ve ,sy/em to indep5d5t     
consultants reta9$ by ! sup]vis$        
f9ancial in/itutions reg>d+ ! proc$ures 
to be foll[$ 9 conduct+ ! file reviews2 
7#b7 ! factors consid]$ by indep5d5t    

consultants :5 evaluat+ loan files2     
7#c7 ! results obta9$ by ! indep5d5t    
consultants pursuant to ^? reviews2     
7#d7 ! det]m9ations made by ! indep5d5t 
consultants reg>d+ ! nature & ext5t (   
f9ancial injury su/a9$ by ea* home[n] z 
well z ! level & type ( rem$iation (f]$ 
to ea* home[n]2 &  7#e7 ! specific      
measures tak5 by ! indep5d5t consultants
 to v]ify1 confirm1 or rebut ! ass]tions
 & repres5tations made by sup]vis$      
f9ancial in/itutions reg>d+ ! cont5ts ( 
loan files & ! ext5t ( f9ancial injury  
to home[n]s4  7c7 ,report ,n lat] ?an ! 
end ( ! #f-mon? p]iod beg9n+ on ! date (
 ! enactm5t ( ?is ,act1 ! ,comptroll]   
,g5]al %all issue a report to !         
,congress conta9+ all f9d+s &           
det]m9ations made 9 c>ry+ out ! audit   
requir$ "u subsection 7a74  ,febru>y #g1
 #bjac ,read ! second "t & plac$ on !   
cal5d>