Bill

Bill > HR6038


US HR6038

US HR6038
CFPB–IG Reform Act of 2021 Bureau of Consumer Financial Protection-Inspector General Reform Act of 2021


summary

Introduced
11/18/2021
In Committee
11/18/2021
Crossed Over
Passed
Dead
01/03/2023

Introduced Session

117th Congress

Bill Summary

A BILL To require Senate confirmation of Inspector General of the Bureau of Consumer Financial Protection, and for other purposes.

AI Summary

This bill, the Bureau of Consumer Financial Protection-Inspector General Reform Act of 2021 or the CFPB-IG Reform Act of 2021, requires Senate confirmation of the Inspector General of the Bureau of Consumer Financial Protection (CFPB). It also establishes the position of the CFPB Inspector General, mandates semiannual hearings for the Inspector General, dedicates 2% of CFPB funds to the Office of the Inspector General, and adds the CFPB to the Council of Inspectors General on Financial Oversight. The bill also sets a 60-day deadline for the President to appoint a CFPB Inspector General and outlines a transition period where the current Inspector General of the Federal Reserve System and CFPB will serve until a new CFPB Inspector General is confirmed.

Committee Categories

Government Affairs

Sponsors (20)

Last Action

Referred to the Committee on Oversight and 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. (on 11/18/2021)

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