I 

118TH CONGRESS 

1ST SESSION H. R. 1411 

To require Senate confirmation of Inspector General of the Bureau of 

Consumer Financial Protection, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 7, 2023 

Mr. LUETKEMEYER introduced the following bill; which was referred to the 

Committee on Oversight and Accountability, 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. 

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

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Bureau of Consumer 

5 Financial Protection-Inspector General Reform Act of 

6 2023’’ or the ‘‘CFPB–IG Reform Act of 2023’’. 


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1 SEC. 2. APPOINTMENT OF INSPECTOR GENERAL. 

2 Chapter 4 of title 5, United States Code, is amend3 ed— 

4 (1) in section 401— 

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

6 Bureau of Consumer Financial Protection,’’ 

7 after ‘‘the Export-Import Bank of the United 

8 States,’’; and 

9 (B) in paragraph (3), by inserting ‘‘the Di10 rector of the Bureau of Consumer Financial 

11 Protection;’’ after ‘‘the President of the Export12 Import Bank of the United States;’’; and 

13 (2) in section 415— 

14 (A) in subsection (a)(1), by striking ‘‘and 

15 the Bureau of Consumer Financial Protection’’; 

16 (B) in subsection (c), by striking ‘‘For 

17 purposes of implementing this section, the 

18 Chairman of the Board of Governors of the 

19 Federal Reserve System shall appoint the In20 spector General of the Board of Governors of 

21 the Federal Reserve System and the Bureau of 

22 Consumer Financial Protection. The Inspector 

23 General of the Board of Governors of the Fed24 eral Reserve System and the Bureau of Con25 sumer Financial Protection shall have all of the 

26 authorities and responsibilities provided by this 


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1 Act with respect to the Bureau of Consumer Fi2 nancial Protection, as if the Bureau were part 

3 of the Board of Governors of the Federal Re4 serve System.’’; and 

5 (C) in subsection (g)(3), by striking ‘‘and 

6 the Bureau of Consumer Financial Protection’’. 

7 SEC. 3. REQUIREMENTS FOR THE INSPECTOR GENERAL 

8 FOR THE BUREAU OF CONSUMER FINANCIAL 

9 PROTECTION. 

10 (a) ESTABLISHMENT.—Section 1011 of the Dodd11 Frank Wall Street Reform and Consumer Protection Act 

12 (12 U.S.C. 5491) is amended— 

13 (1) in subsection (b)— 

14 (A) in the subsection heading, by striking 

15 ‘‘AND DEPUTY DIRECTOR’’ and inserting ‘‘, 

16 DEPUTY DIRECTOR, AND INSPECTOR GEN17 ERAL’’; and 

18 (B) by inserting after paragraph (5) the 

19 following: 

20 ‘‘(6) INSPECTOR GENERAL.—There is estab21 lished the position of the Inspector General.’’; and 

22 (2) in subsection (d), by striking ‘‘or Deputy 

23 Director’’ each place it appears and inserting ‘‘, 

24 Deputy Director, or Inspector General’’. 


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1 (b) HEARINGS.—Section 1016 of such Act is amend2 ed by inserting after subsection (c) the following: 

3 ‘‘(d) ADDITIONAL REQUIREMENT FOR INSPECTOR

4 GENERAL.—On a separate occasion from that described 

5 in subsection (a), the Inspector General of the Bureau 

6 shall appear, upon invitation, before the Committee on 

7 Banking, Housing, and Urban Affairs of the Senate and 

8 the Committee on Financial Services and the Committee 

9 on Energy and Commerce of the House of Representatives 

10 at semiannual hearings regarding the reports required 

11 under subsection (b) and the reports required under sec12 tion 405 of title 5, United States Code.’’. 

13 (c) FUNDING FOR OFFICE OF INSPECTOR GEN14 ERAL.—Section 1017(a)(2) of such Act is amended— 

15 (1) by redesignating subparagraph (C) as sub16 paragraph (D); and 

17 (2) by inserting after subparagraph (B) the fol18 lowing: 

19 ‘‘(C) FUNDING FOR OFFICE OF INSPECTOR

20 GENERAL.—Each fiscal year, the Bureau shall 

21 dedicate 2 percent of the funds transferred pur22 suant to paragraph (1) to the Office of the In23 spector General.’’. 

24 (d) PARTICIPATION IN THE COUNCIL OF INSPECTORS

25 GENERAL ON FINANCIAL OVERSIGHT.—Section 


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1 989E(a)(1) of such Act is amended by adding at the end 

2 the following: 

3 ‘‘(J) The Bureau of Consumer Financial 

4 Protection.’’. 

5 (e) DEADLINE FOR APPOINTMENT.—Not later than 

6 60 days after the date of the enactment of this Act, the 

7 President shall appoint an Inspector General for the Bu8 reau of Consumer Financial Protection in accordance with 

9 section 403 of title 5, United States Code. 

10 SEC. 4. EFFECTIVE DATE. 

11 (a) IN GENERAL.—The amendments made by this 

12 Act shall take effect on the date on which the first Inspec13 tor General of the Bureau of Consumer Financial Protec14 tion is confirmed by the Senate. 

15 (b) APPOINTMENT.—The President may appoint, and 

16 the Senate may confirm, an Inspector General of the Bu17 reau of Consumer Financial Protection before the amend18 ments made by this Act take effect. 

19 (c) TRANSITION.—The Inspector General of the 

20 Board of Governors of the Federal Reserve System and 

21 the Bureau of Consumer Financial Protection shall, upon 

22 the date on which the first Inspector General of the Bu23 reau of Consumer Financial Protection is confirmed by the 


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1 Senate, become the Inspector General of the Board of 

2 Governors of the Federal Reserve System. 

Æ 


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