CFPB-IG Act of 2017

Bill: 115-s-626
Sponsor: full_name: Sen. Portman, Rob [R-OH]
Introduced: 2017-03-14
Policy area: Finance and Financial Sector
Subjects: Consumer Financial Protection Bureau

Executive agency funding and structure

Federal officials

Government studies and investigations
Latest action: action_date: 2017-03-14
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2017-03-14
action_desc: Introduced in Senate
text: <p><b>Bureau of Consumer Financial Protection-Inspector General Reform Act of 2017 or CFPB-IG Act of 2017</b></p> <p>This bill amends the Inspector General Act of 1978 to repeal the authority of the Chairman of the Board of Governors of the Federal Reserve System to appoint the Inspector General of the Consumer Financial Protection Bureau (CFPB).</p> <p>The CFPB Inspector General shall be appointed by the President, by and with the advice and consent of the Senate.</p>

tv_txt: II 115th CONGRESS 1st Session S. 626 IN THE SENATE OF THE UNITED STATES March 14, 2017 Mr. Portman (for himself, Mr. Enzi , Mr. Heller , Mr. Isakson , Mr. Barrasso , Mr. Hoeven , Ms. Collins , Mr. Blunt , Mr. Boozman , and Mr. Cochran ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To require Senate confirmation of the Inspector General of the Bureau of Consumer Financial Protection, and for other purposes.

1. Short title This Act may be cited as the Bureau of Consumer Financial Protection-Inspector General Reform Act of 2017 or the CFPB-IG Act of 2017 . 2. Appointment of Inspector General The Inspector General Act of 1978 (5 U.S.C. App.) is amended— (1) in section 8G— (A) in subsection (a)(2), by striking and the Bureau of Consumer Financial Protection ; (B) in subsection (c), by striking For the purposes of implementing this section and all that follows through the end of the subsection; and (C) in subsection (g)(3), by striking and the Bureau of Consumer Financial Protection ; and (2) in section 12— (A) in paragraph (1), by inserting the Director of the Bureau of Consumer Financial Protection; after the President of the Export-Import Bank; ; and (B) in paragraph (2), by inserting the Bureau of Consumer Financial Protection, after the Export-Import Bank, .