119-hr2513

[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.
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