The Federal Reserve Banks’ New Transparency and Accountability Policy
Michael Ravnitzky is an attorney and former journalist who has more than 25 years of experience in using the Freedom of Information Act and state public records laws. On December 21, 2023, the Federal Reserve Banks each announced the adoption of a uniform Transparency and Accountability Policy (TAP). The Banks have begun responding to public records requests under that policy. Following implementation of the new policy, Ravnitzky initiated several records requests directed at individual Fed Banks, utilizing the provisions of the TAP. His extensively documented evaluation of the new process is that TAP is a good start but it has some shortcomings.