[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2513 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 2513
To require Senate confirmation of Inspector General of the Bureau of
Consumer Financial Protection, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 31, 2025
Mr. Meuser (for himself, Mr. Huizenga, Mr. Barr, Mr. Williams of Texas,
Mrs. Kim, Mr. Donalds, and Ms. Salazar) introduced the following bill;
which was 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
_______________________________________________________________________
A BILL
To require Senate confirmation of Inspector General of the Bureau of
Consumer Financial Protection, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Bureau of Consumer Financial
Protection-Inspector General Reform Act of 2025'' or the ``CFPB-IG
Reform Act of 2025''.
SEC. 2. APPOINTMENT OF INSPECTOR GENERAL.
Chapter 4 of title 5, United States Code, is amended--
(1) in section 401--
(A) in paragraph (1), by inserting ``the Bureau of
Consumer Financial Protection,'' after ``the Export-
Import Bank of the United States,''; and
(B) in paragraph (3), by inserting ``the Director
of the Bureau of Consumer Financial Protection;'' after
``the President of the Export-Import Bank of the United
States;''; and
(2) in section 415--
(A) in subsection (a)(1), by striking ``and the
Bureau of Consumer Financial Protection'';
(B) in subsection (c), by striking ``For purposes
of implementing this section, the Chairman of the Board
of Governors of the Federal Reserve System shall
appoint the Inspector General of the Board of Governors
of the Federal Reserve System and the Bureau of
Consumer Financial Protection. The Inspector General of
the Board of Governors of the Federal Reserve System
and the Bureau of Consumer Financial Protection shall
have all of the authorities and responsibilities
provided by this Act with respect to the Bureau of
Consumer Financial Protection, as if the Bureau were
part of the Board of Governors of the Federal Reserve
System.''; and
(C) in subsection (g)(3), by striking ``and the
Bureau of Consumer Financial Protection''.
SEC. 3. REQUIREMENTS FOR THE INSPECTOR GENERAL FOR THE BUREAU OF
CONSUMER FINANCIAL PROTECTION.
(a) Establishment.--Section 1011 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (12 U.S.C. 5491) is amended--
(1) in subsection (b)--
(A) in the subsection heading, by striking ``and
Deputy Director'' and inserting ``, Deputy Director,
and Inspector General''; and
(B) by inserting after paragraph (5) the following:
``(6) Inspector general.--There is established the position
of the Inspector General.''; and
(2) in subsection (d), by striking ``or Deputy Director''
each place it appears and inserting ``, Deputy Director, or
Inspector General''.
(b) Hearings.--Section 1016 of such Act is amended by inserting
after subsection (c) the following:
``(d) Additional Requirement for Inspector General.--On a separate
occasion from that described in subsection (a), the Inspector General
of the Bureau shall appear, upon invitation, before the Committee on
Banking, Housing, and Urban Affairs of the Senate and the Committee on
Financial Services and the Committee on Energy and Commerce of the
House of Representatives at semiannual hearings regarding the reports
required under subsection (b) and the reports required under section
405 of title 5, United States Code.''.
(c) Funding for Office of Inspector General.--Section 1017(a)(2) of
such Act is amended--
(1) by redesignating subparagraph (C) as subparagraph (D);
and
(2) by inserting after subparagraph (B) the following:
``(C) Funding for office of inspector general.--
Each fiscal year, the Bureau shall dedicate 2 percent
of the funds transferred pursuant to paragraph (1) to
the Office of the Inspector General.''.
(d) Participation in the Council of Inspectors General on Financial
Oversight.--Section 989E(a)(1) of such Act is amended by adding at the
end the following:
``(J) The Bureau of Consumer Financial
Protection.''.
(e) Deadline for Appointment.--Not later than 60 days after the
date of the enactment of this Act, the President shall appoint an
Inspector General for the Bureau of Consumer Financial Protection in
accordance with section 403 of title 5, United States Code.
SEC. 4. EFFECTIVE DATE.
(a) In General.--The amendments made by this Act shall take effect
on the date on which the first Inspector General of the Bureau of
Consumer Financial Protection is confirmed by the Senate.
(b) Appointment.--The President may appoint, and the Senate may
confirm, an Inspector General of the Bureau of Consumer Financial
Protection before the amendments made by this Act take effect.
(c) Transition.--The Inspector General of the Board of Governors of
the Federal Reserve System and the Bureau of Consumer Financial
Protection shall, upon the date on which the first Inspector General of
the Bureau of Consumer Financial Protection is confirmed by the Senate,
become the Inspector General of the Board of Governors of the Federal
Reserve System.
<all>