Does Congressman Frank support the legislation introduced by Congressman Ron Paul to require an audit of the Federal Reserve?

Congressman Frank agrees that there should be increased oversight of the Federal Reserve, but he thinks legislation should be part of a comprehensive effort to strengthen oversight of financial institutions. As Chairman of the Committee on Financial Services, he does not plan to consider Congressman Paul’s bill alone, but he does intend to review the roles of government entities which oversee the economy and to enact legislation to help prevent a future economic collapse.

For more information about Congressman Frank's views about the Federal Reserve, see the below letter to his constituents.