II 

118TH CONGRESS 

1ST SESSION S. 915 

To require Presidential appointment and Senate confirmation of the Inspector 

General of the Board of Governors of the Federal Reserve System and 

the Bureau of Consumer Financial Protection. 

IN THE SENATE OF THE UNITED STATES 

MARCH 22, 2023 

Mr. SCOTT of Florida (for himself and Ms. WARREN) introduced the following 

bill; which was read twice and referred to the Committee on Banking, 

Housing, and Urban Affairs 

A BILL 

To require Presidential appointment and Senate confirmation 

of the Inspector General of the Board of Governors of 

the Federal Reserve System and the Bureau of Consumer Financial Protection. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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•S 915 IS

1 SECTION 1. PRESIDENTIAL APPOINTMENT OF INSPECTOR 

2 GENERAL OF THE BOARD OF GOVERNORS OF 

3 THE FEDERAL RESERVE SYSTEM AND THE 

4 BUREAU OF CONSUMER FINANCIAL PROTEC5 TION. 

6 Chapter 4 of part I of title 5, United States Code, 

7 is amended— 

8 (1) in section 401— 

9 (A) in paragraph (1), by inserting ‘‘the 

10 Board of Governors of the Federal Reserve Sys11 tem and the Bureau of Consumer Financial 

12 Protection,’’ after ‘‘National Security Agency,’’; 

13 and 

14 (B) in paragraph (2), by inserting ‘‘the 

15 Chairman of the Board of Governors of the 

16 Federal Reserve System;’’ after ‘‘National Secu17 rity Agency;’’; 

18 (2) in section 415— 

19 (A) in subsection (a)(1)(A), by striking 

20 ‘‘the Board of Governors of the Federal Reserve 

21 System and the Bureau of Consumer Financial 

22 Protection,’’; 

23 (B) in subsection (c), by striking the third 

24 and fourth sentences; and 

25 (C) in subsection (g)— 

26 (i) by striking paragraph (3); and 


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1 (ii) by redesignating paragraph (4) as 

2 paragraph (3); 

3 (3) in section 418, by striking ‘‘or 421’’ and in4 serting ‘‘421, or 425’’; and 

5 (4) by adding at the end the following: 

6 ‘‘§ 425. Special provisions concerning the Board of 

7 Governors of the Federal Reserve System 

8 and the Bureau of Consumer Financial 

9 Protection 

10 ‘‘(a) IN GENERAL.—The Inspector General of the 

11 Board of Governors of the Federal Reserve System and 

12 the Bureau of Consumer Financial Protection shall have 

13 all of the authorities and responsibilities provided by this 

14 chapter— 

15 ‘‘(1) with respect to the Bureau of Consumer 

16 Financial Protection, as if the Bureau were part of 

17 the Board of Governors of the Federal Reserve Sys18 tem; and 

19 ‘‘(2) with respect to a Federal reserve bank 

20 without the permission of the Federal reserve bank. 

21 ‘‘(b) RELATIONSHIP TO DEPARTMENT OF TREAS22 URY.—The provisions of subsection (a) of section 412 of 

23 this title (other than the provisions of subparagraphs (A), 

24 (B), (C), and (E) of subsection (a)(1) of section 412 of 

25 this title) shall apply to the Inspector General of the 


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1 Board of Governors of the Federal Reserve System and 

2 the Bureau of Consumer Financial Protection and the 

3 Chairman of the Board of Governors of the Federal Re4 serve System in the same manner as such provisions apply 

5 to the Inspector General of the Department of the Treas6 ury and the Secretary of the Treasury, respectively.’’. 

Æ 


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