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Enhanced Oversight of Financial Regulators: New Inspector Appointment Rules

This bill changes how key oversight officials for major financial institutions, like the Federal Reserve and the Consumer Financial Protection Bureau, are appointed. Instead of internal nominations, the Inspectors General of these bodies will now require Presidential appointment and Senate confirmation. This aims to enhance the independence and accountability of these roles, potentially leading to better protection of citizens' financial interests.
Key points
Inspectors General for the Federal Reserve and Consumer Financial Protection Bureau will be appointed by the President and confirmed by the Senate.
The change aims to increase independence and oversight of these crucial financial institutions.
New rules may lead to greater transparency and accountability in regulatory actions, indirectly protecting consumers.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1627
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2025-05-06
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

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.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1627.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-05-06.

What are the main provisions?

Key points include:

  • Inspectors General for the Federal Reserve and Consumer Financial Protection Bureau will be appointed by the President and confirmed by the Senate.
  • The change aims to increase independence and oversight of these crucial financial institutions.
  • New rules may lead to greater transparency and accountability in regulatory actions, indirectly protecting consumers.
What is the specific legal status?

The current status is Introduced.

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 Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Courts and Law