MarketWatch – Democratic lawmakers in negotiations to resolve differences in sweeping financial-reform legislation agreed Wednesday to allow ongoing audits of the Federal Reserve’s books, with Senate lawmakers signing on to a broader investigation authority from a House bank bill.
As part of the deal, lawmakers agreed to a one-time Government Accountability Office audit of the Fed’s emergency-lending programs. It also includes a House panel provision that permits ongoing audits of the Fed’s discount window, a government-lending facility from which banks borrow reserves.
