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Independent Inspector General for Consumer Financial Protection Bureau

This act establishes an independent Inspector General for the Consumer Financial Protection Bureau (CFPB). This means that oversight of the CFPB's actions, which protect your financial rights, will be more independent and transparent. The new Inspector General will require Senate confirmation and will have a dedicated budget, aiming to enhance their effectiveness in uncovering irregularities.
Key points
Establishes an independent Inspector General within the Consumer Financial Protection Bureau (CFPB) to oversee its operations.
The Inspector General will require Senate confirmation, increasing public oversight of this position.
The Consumer Financial Protection Bureau will be required to dedicate 2% of its annual funds to the Inspector General's office, ensuring financial independence.
The Inspector General will regularly report to Congressional committees, enhancing transparency and accountability of the CFPB.
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Expired
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Additional Information
Print number: 118_HR_1411
Sponsor: Rep. Luetkemeyer, Blaine [R-MO-3]
Process start date: 2023-03-07
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CFPB–IG Reform Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1411.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-07.

What are the main provisions?

Key points include:

  • Establishes an independent Inspector General within the Consumer Financial Protection Bureau (CFPB) to oversee its operations.
  • The Inspector General will require Senate confirmation, increasing public oversight of this position.
  • The Consumer Financial Protection Bureau will be required to dedicate 2% of its annual funds to the Inspector General's office, ensuring financial independence.
  • The Inspector General will regularly report to Congressional committees, enhancing transparency and accountability of the CFPB.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Luetkemeyer, Blaine [R-MO-3].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Courts and Law Economy