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Creates a Senate‑confirmed, independent Inspector General for the Bureau of Consumer Financial Protection, adds the Bureau to the council of financial oversight IGs, and requires the IG to testify at semiannual congressional hearings. It directs the Bureau to dedicate 2% of specified annual transfers to fund the Office of Inspector General and gives the President 60 days to appoint the first IG. The changes take effect when the first Bureau IG is confirmed by the Senate. The bill also updates Title 5 provisions on IG appointments and provides for a smooth transition from the current arrangement once the new IG is confirmed.
Amend Title 5, Chapter 4 (general provision heading) as indicated in the section header.
In 5 U.S.C. §401, paragraph (1): insert text after the indicated location (excerpt shows the instruction but not the actual text to be inserted).
In 5 U.S.C. §401, paragraph (3): insert text after the indicated location (excerpt shows the instruction but not the actual text to be inserted).
In 5 U.S.C. §415, subsection (a)(1): strike the indicated text (excerpt shows the instruction but not the actual text to be struck).
In 5 U.S.C. §415, subsection (c): strike the indicated text (excerpt shows the instruction but not the actual text to be struck).
Amends 12 U.S.C. 5491 by adding an Inspector General position to subsection (b) (inserting a new paragraph (6)) and by amending subsection (d) to include the Inspector General in the list of offices/persons covered by the service restriction.
Amends 5 U.S.C. 401 by inserting text into paragraph (1) and inserting text into paragraph (3); the specific insertion text is not provided in this section.
Amends 5 U.S.C. 415 by striking specified punctuation/text in subsection (a)(1), striking specified text in subsection (c), and striking specified text in subsection (g)(3); the exact text being struck is not provided in this section.
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Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced March 31, 2025 by Dan Meuser · Last progress March 31, 2025
Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House