Bill · S. 1627· Senate(119-S-1627)
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.
- Introduced
- 5/6/2025
- Last activity
- 5/6/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Rick Scott
- Cosponsors
- - 1 - 1
- Introduced
- In Committee
What this bill would do
This bill requires the Inspector General of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection to be appointed by the President and confirmed by the Senate. It amends title 5 of the United States Code to include these positions in the presidential appointment and Senate confirmation process. The bill also establishes special provisions regarding the authorities and responsibilities of this Inspector General.
Yes· 3 of 6
Does this make what the government does easier for the public to see?+5
The bill enhances accountability through the confirmation process and expands the IG's oversight authority.
Does this give the federal government more power?+3
The bill increases federal control by requiring presidential appointment and senate confirmation for these IGs.
Does this make the government pay for what it commits to?+2
Increasing oversight accountability for the Federal Reserve and CFPB may improve fiscal oversight.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Accountability: By requiring Presidential appointment and Senate confirmation for the Inspector General of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection, the bill subjects these oversight roles to a formal confirmation process (Section 1(a)(1)).
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Broadened Oversight Authority: The Inspector General is granted authorities and responsibilities including the ability to oversee a Federal reserve bank without the permission of that bank (Section 1(a)(4)(a)(2)).
Potential Negative Impacts for People
- No negative impacts for individuals or groups are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+5Increases Federal Power+3
- Economy And Finance
- Improves Consumer Protection+2Improves Fiscal Responsibility+2
- Demographic And Interest Groups
- Good For Low Income Households+1Good For Middle Class Households+1
- 7/28/2025
- 1 Cosponsor added.
- 5/6/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
Cynthia LummisRepublican · Wyoming
Elizabeth WarrenDemocrat · Massachusetts