It's the first time in its 95-year history that the Fed would be subjected to government scrutiny.
The central bank's secrecy came under criticism last year when it used its emergency powers to pump hundreds of billions of dollars into the struggling financial sector. The Fed was not required to specify which institutions received the money.
The committee will vote on the entire bill Dec. 1.

The race for the 2012 Republican presidential nomination began quietly last year, Politico reports, with political committees for most of the presumed hopefuls spending thousands of dollars on policy...
Politics Daily columnist and Daily FLOTUS writer Lynn Sweet appeared on the "UpFront with Tony Cox" radio program on Saturday to discuss the visit that she and a small group of reporters had with...
Celebrity stylist Erwin Gomez (pictured, at right) will be testifying before a federal grand jury Tuesday morning, apparently in an investigation related to now-infamous White House state dinner...




