,,ii  #aah? ,,congress  #a/ ,session    
,s4 #bcce  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ah1 #bjbc,mr4   
,vance 7= himself1 ,ms4 ,lummis1 & ,mr4 
,m>%all7 introduc$ ! foll[+ bill2 :i* 0 
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to e/abli% )9 ! ,dep>tm5t ( !  
,treasury ! ,(fice ( ! ,special         
,inspector ,g5]al = ,f9ancial           
,regulatory ,abuses & ,misconduct1 & =  
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,f9ancial ,regulatory  
,acc\ntability ,act ( #bjbc4  #b4       
,special ,inspector ,g5]al = ,f9ancial  
,regulatory ,abuses & ,misconduct  7a7  
,def9itions ,9 ?is section3 7#a7        
,appropriate committees ( ,congress ,!  
t]m appropriate committees ( ,congress  
means-- 7,a7 ! ,committee on ,bank+1    
,h\s+1 & ,urban ,affairs ( ! ,s5ate2    
7,b7 ! ,subcommittee on ,f9ancial       
,s]vices & ,g5]al ,gov]nm5t ( !         
,committee on ,appropriations ( !       
,s5ate2  7,c7 ! ,committee on ,f9ancial 

,s]vices ( ! ,h\se ( ,repres5tatives2 & 
7,d7 ! ,subcommittee on ,f9ancial       
,s]vices & ,g5]al ,gov]nm5t ( !         
,committee on ,appropriations ( ! ,h\se 
( ,repres5tatives4  7#b7 ,cov]$ ag5cies 
,! t]m cov]$ ag5cies means-- 7,a7 !     
,securities & ,ex*ange ,commission2     
7,b7 ! ,bo>d ( ,gov]nors ( ! ,f$]al     
,res]ve ,sy/em2  7,c7 ! ,(fice ( !      
,comptroll] ( ! ,curr5cy2  7,d7 ! ,f$]al
 ,deposit ,insurance ,corporation2  7,e7
 ! ,commodity ,futures ,trad+           
,commission2  7,f7 ! ,f$]al ,h\s+       
,f9ance ,ag5cy2  7,g7 ! ,bureau (       
,consum] ,f9ancial ,protection2 &  7,h7 
! ,national ,cr$it ,union ,adm9i/ration4
  7b7 ,(fice ( ,inspector ,g5]al ,!re is
 h]eby e/abli%$ )9 ! ,dep>tm5t ( !      
,treasury ! ,(fice ( ! ,special         
,inspector ,g5]al = ,f9ancial           
,regulatory ,abuses & ,misconduct4  7c7 
,appo9tm5t ( ,inspector ,g5]al2 removal2
 basic pay  7#a7 ,9 g5]al ,! head ( !   
,(fice ( ! ,special ,inspector ,g5]al = 
,f9ancial ,regulatory ,abuses &         

,misconduct %all be ! ,special          
,inspector ,g5]al = ,f9ancial           
,regulatory ,abuses & ,misconduct       
7ref]r$ to 9 ?is section z ! ,special   
,inspector ,g5]al71 :o %all be appo9t$  
by ! ,presid5t1 by & ) ! advice & cons5t
 ( ! ,s5ate4  7#b7 ,nom9ation ,!        
nom9ation ( ! ,special ,inspector ,g5]al
 %all be made on ! basis ( integrity &  
demon/rat$ famili>ity ) ! f9ancial      
sector & indu/ry1 9 addition to an      
ability 9 acc\nt+1 audit+1 f9ancial     
analysis1 law1 managem5t analysis1      
securities regulation1 prud5tial bank+  
regulation1 d]ivatives regulation1      
public adm9i/ration1 or inve/igations4  
7#c7 ,removal ,! ,special ,inspector    
,g5]al %all be removable f (fice 9      
accordance ) ! provisions ( section     
#djc7;b7 ( title #e1 ,unit$ ,/ates      
,code4  7#d7 ,basic pay ,! annual rate (
 basic pay ( ! ,special ,inspector      
,g5]al %all be ! annual rate ( basic pay
 = an ,inspector ,g5]al "u section      
#djc7;e7 ( title #e1 ,unit$ ,/ates      

,code4  7d7 ,duties  7#a7 ,9 g5]al ,x   
%all be ! duty ( ! ,special ,inspector  
,g5]al to1 9 accordance ) section       
#djd7;b77#a7 ( title #e1 ,unit$ ,/ates  
,code-- 7,a7 receive1 review1 &         
inve/igate allegations f entities       
regulat$ by ! cov]$ ag5cies reg>d+      
sup]visory1 regulatory1 & exam9ation    
abuses & misconduct at any ( ! cov]$    
ag5cies ) respect to ! indu/ry ov]se5 by
 ! applicable cov]$ ag5cy1 includ+ any  
ideological bias demon/rat$ by ! cov]$  
ag5cy or any employee ( ! cov]$ ag5cy2 &
  7,b7 make recomm5dations to !         
applicable cov]$ ag5cy & to !           
appropriate committees ( ,congress      
reg>d+-- 7i7 measures t ! cov]$ ag5cy   
%\ld take to rem$y any abuses or        
misconduct describ$ 9 subp>agraph 7,a72 
&  7ii7 any employee ( ! cov]$ ag5cy t !
 ,special ,inspector ,g5]al det]m9es1   
aft] a review or inve/igation describ$ 9
 subp>agraph 7,a71 %\ld face discipl9>y 
action 7includ+ removal7 z a result (   
abuses or misconduct describ$ 9 t       

subp>agraph4  7#b7 ,ma9t5ance ( sy/ems  
,! ,special ,inspector ,g5]al %all      
e/abli%1 ma9ta91 & ov]see su* sy/ems1   
proc$ures1 & controls z ! ,special      
,inspector ,g5]al consid]s appropriate  
to dis*>ge ! duties ( ! ,special        
,inspector ,g5]al "u p>agraph 7#a74     
7#c7 ,additional duties &               
responsibilities ,9 addition to ! duties
 describ$ 9 p>agraphs 7#a7 & 7#b71 !    
,special ,inspector ,g5]al %all also h !
 duties & responsibilities ( inspectors 
g5]al "u *apt] #d ( title #e1 ,unit$    
,/ates ,code4  7#d7 ,confid5tiality (   
in=mation ,! ,special ,inspector ,g5]al 
%all ma9ta9 ! confid5tiality ( ! id5tity
 ( any p]son1 employ+ entity1 or        
regulat$ entity submitt+ in=mation to ! 
,special ,inspector ,g5]al = ! purposes 
( c>ry+ out ! duties ( ! ,special       
,inspector ,g5]al "u ?is section1       
includ+ 9 any report submitt$ "u        
subsection 7g74  7e7 ,p[]s & au?orities 
7#a7 ,9 g5]al ,9 c>ry+ out ! duties ( ! 
,special ,inspector ,g5]al "u subsection

 7d71 ! ,special ,inspector ,g5]al %all 
h ! au?orities provid$ 9 section #djf ( 
title #e1 ,unit$ ,/ates ,code4  7#b7    
,treatm5t ( ,(fice ,! ,(fice ( !        
,special ,inspector ,g5]al %all be      
consid]$ to be an (fice describ$ 9      
section #djf7;f77#c7 ( title #e1 ,unit$ 
,/ates ,code1 & %all be exempt f an     
initial det]m9ation by ! ,attorney      
,g5]al "u section #djf7;f77#b7 ( t      
title4  7f7 ,p]sonnel1 facilities1 & o!r
 res\rces  7#a7 ,appo9tm5t ( (fic]s &   
employees  7,a7 ,9 g5]al ,! ,special    
,inspector ,g5]al may select1 appo9t1 & 
employ su* (fic]s & employees z may be  
necess>y = c>ry+ out ! duties ( !       
,special ,inspector ,g5]al4  7,b7 ,/atus
 ,! positions to :i* (fic]s & employees 
are appo9t$ "u subp>agraph 7,a7 %all be 
positions 9 s*$ule ,c ( subp>t ,c ( "p  
#bac ( title #e1 ,code ( ,f$]al         
,regulations1 or any successor          
regulations4  7#b7 ,exp]ts & consultants
 ,! ,special ,inspector ,g5]al may obta9
 s]vices z au?oriz$ "u section #caji (  

title #e1 ,unit$ ,/ates ,code1 at daily 
rates n to exce$ ! equival5t rate       
prescrib$ = grade ,,gs-#ae ( ! ,g5]al   
,s*$ule by section #eccb ( t title4     
7#c7 ,contracts ,! ,special ,inspector  
,g5]al may ent] into contracts & o!r    
arrangem5ts = audits1 /udies1 analyses1 
& o!r s]vices ) public ag5cies & )      
private p]sons1 & make su* paym5ts z may
 be necess>y to c>ry out ! duties ( !   
,special ,inspector ,g5]al4  7#d7       
,reque/s = in=mation  7,a7 ,9 g5]al ,^u 
reque/ ( ! ,special ,inspector ,g5]al = 
in=mation or assi/ance f any dep>tm5t1  
ag5cy1 or o!r entity ( ! ,f$]al         
,gov]nm5t1 includ+ f any cov]$ ag5cy1 ! 
head ( t dep>tm5t1 ag5cy1 or entity     
%all1 to ! ext5t practicable & n 9      
contrav5tion ( any exi/+ law1 furni% t  
in=mation or assi/ance to ! ,special    
,inspector ,g5]al1 or an au?oriz$       
designee4  7,b7 ,refusal to provide     
reque/$ in=mation ,:5ev] in=mation or   
assi/ance reque/$ by ! ,special         
,inspector ,g5]al is1 9 ! judgm5t ( !   

,special ,inspector ,g5]al1 unreasonably
 refus$ or n provid$1 ! ,special        
,inspector ,g5]al %all report !         
circum/ances to ! appropriate committees
 ( ,congress )\t delay4  7,c7           
,congressional access ,! ,special       
,inspector ,g5]al may provide any record
 or o!r piece ( in=mation obta9$ "u ?is 
p>agraph to ! appropriate committees (  
,congress4  7g7 ,reports  7#a7 ,qu>t]ly 
reports  7,a7 ,9 g5]al ,n lat] ?an #fj  
days aft] ! date on :i* ! ,special      
,inspector ,g5]al is confirm$1 & once e 
cal5d> qu>t] !reaft]1 ! ,special        
,inspector ,g5]al %all submit to !      
appropriate committees ( ,congress a    
report summ>iz+ ! activities ( !        
,special ,inspector ,g5]al dur+ !       
#c-mon? p]iod end+ on ! date on :i* !   
,special ,inspector ,g5]al submits !    
report4  7,b7 ,cont5ts ,ea* report      
submitt$ "u subp>agraph 7,a7 %all       
include1 = ! p]iod cov]$ by ! report1 ! 
foll[+3 7i7 ,a g5]al description ( !    
allegations receiv$ & review$ by !      

,special ,inspector ,g5]al "u subsection
 7d77#a77;,a74  7ii7 ,recomm5dations ( !
 ,special ,inspector ,g5]al reg>d+ re=ms
 t ! ,special ,inspector ,g5]al believes
 %\ld be und]tak5 ) respect to !        
au?ority ( ! ,special ,inspector ,g5]al 
& matt]s )9 ! au?ority ( ! ,special     
,inspector ,g5]al to review &           
inve/igate1 includ+ ! au?ority describ$ 
9 subsection 7d77#a77;,b74  7iii7 ,= a  
cov]$ ag5cy ) respect to :i* an         
allegation submitt$ "u ?is section      
applies1 ! /eps t ! cov]$ ag5cy has     
tak51 & has yet to take1 to rem$y !     
issues outl9$ 9 ! allegation4  7iv7     
,data reg>d+ ! numb] ( allegations      
receiv$ & review$ by ! ,special         
,inspector ,g5]al "u ?is section t      
docum5t legitimate acts ( abuse or      
misconduct1 z det]m9$ by ! ,special     
,inspector ,g5]al1 :i* %all-- 7,i7 be   
disaggregat$ by ! numb] ( acts ( abuse  
or misconduct committ$ by ea* cov]$     
ag5cy2 &  7,,ii7 conta9 a sep>ate       
provision li/+ ! numb] ( ^? acts t      

relate to ideological bias1 :i* %all be 
disaggregat$ z describ$ 9 subclause     
7,i74  7v7 ,comm5t>y by ! ,special      
,inspector ,g5]al reg>d+ ! level (      
coop]ation by ea* cov]$ ag5cy ) respect 
to reviews & inve/igations p]=m$ by !   
,special ,inspector ,g5]al1 includ+1 )  
respect to ea* cov]$ ag5cy1 :e!r ! cov]$
 ag5cy has implem5t$ recomm5dations made
 by ! ,special ,inspector ,g5]al & :e!r 
! cov]$ ag5cy has provid$ in=mation or  
access reque/$ by ! ,special ,inspector 
,g5]al4  7#b7 ,rule ( con/ruction ,no?+ 
9 ?is subsection may be con/ru$ to      
au?orize ! public disclosure ( in=mation
 t is-- 7,a7 specifically prohibit$ f   
disclosure by any o!r provision ( law2  
7,b7 specifically requir$ by ,executive 
ord] to be protect$ f disclosure 9 !    
int]e/ ( national def5se or national    
security or 9 ! conduct ( =eign affairs2
 or  7,c7 a "p ( an ongo+ crim9al       
inve/igation4  7h7 ,fund+ ,!re are      
au?oriz$ to be appropriat$ #be1jjj1jjj  
to c>ry out ?is section1 :i* %all rema9 

available until exp5d$4  7i7 ,c\ncil ( !
 ,inspectors ,g5]al on ,integrity &     
,effici5cy ,! ,special ,inspector ,g5]al
 %all be a memb] ( ! ,c\ncil ( !        
,inspectors ,g5]al on ,integrity &      
,effici5cy e/abli%$ "u section #dbd (   
title #e1 ,unit$ ,/ates ,code4  7j7     
,corrective responses to audit problems 
,a cov]$ ag5cy %all-- 7#a7 take action  
to address defici5cies id5tifi$ by a    
report or inve/igation ( ! ,special     
,inspector ,g5]al2 or  7#b7 ) respect to
 a defici5cy id5tifi$ "u p>agraph 7#a71 
c]tify to ! appropriate committees (    
,congress t no action is necess>y or    
appropriate4  7k7 ,rule ( con/ruction   
,no?+ 9 ?is section may be con/ru$ z    
limit+ ! au?ority ( ! ,inspector ,g5]al 
( ! ,f$]al ,deposit ,insurance          
,corporation1 ! ,inspector ,g5]al ( !   
,f$]al ,h\s+ ,f9ance ,ag5cy1 or !       
,inspector ,g5]al ( ! ,national ,cr$it  
,union ,adm9i/ration4  #c4 ,limitation  
on regulatory au?ority  7a7 ,def9itions 
,9 ?is section3 7#a7 ,cov]$ action ,!   

t]m cov]$ action means-- 7,a7 !         
initiation by a cov]$ ag5cy ( an        
en=cem5t action1 includ+ ! issuance ( a 
cease & desi/ ord]2 or  7,b7 ! issuance 
by a cov]$ ag5cy ( a matt] requir+      
att5tion1 a matt] requir+ imm$iate      
att5tion1 or a matt] requir+ bo>d       
att5tion ) respect to a sup]visory      
activity conduct$ by ! cov]$ ag5cy4     
7#b7 ,cov]$ ag5cies ,! t]m cov]$ ag5cies
 has ! mean+ giv5 ! t]m 9 section       
#b7;a74  7b7 ,prohibition ,not)/&+ any  
o!r provision ( law or regulation1 no   
cov]$ ag5cy may take any cov]$ action   
aga9/ an entity sup]vis$ by ! cov]$     
ag5cy1 or require su* an entity to take 
any action1 bas$ on consid]ations (     
reputational risk4