Bill > HR6038

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.