,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #beac  ,,in ,,the ,,house ,,of  
,,representatives  ,march #ca1 #bjbe,mr4
 ,meuser 7for himself1 ,mr4 ,huizenga1  
,mr4 ,barr1 ,mr4 ,williams of ,texas1   
,mrs4 ,kim1 ,mr4 ,donalds1 and ,ms4     
,salazar7 introduced the following bill2
 which was referred to the ,committee on
 ,oversight and ,government ,reform1 and
 in addition to the ,committee on       
,financial ,services1 for a period to be
 subsequently determined by the         
,speaker1 in each case for consideration
 of such provisions as fall within the  
jurisdiction of the committee concerned 
,a ,,bill  ,to require ,senate          
confirmation of ,inspector ,general of  
the ,bureau of ,consumer ,financial     
,protection1 and for other purposes4    
#a4 ,short title ,this ,act may be cited
 as the ,bureau of ,consumer ,financial 
,protection-,inspector ,general ,reform 
,act of #bjbe or the ,,cfpb-,,ig ,reform
 ,act of #bjbe4  #b4 ,appointment of    
,inspector ,general ,chapter #d of title

 #e1 ,united ,states ,code1 is amended--
 7#a7 in section #dja-- 7,a7 in         
paragraph 7#a71 by inserting the ,bureau
 of ,consumer ,financial ,protection1   
after the ,export-,import ,bank of the  
,united ,states12 and  7,b7 in paragraph
 7#c71 by inserting the ,director of the
 ,bureau of ,consumer ,financial        
,protection2 after the ,president of the
 ,export-,import ,bank of the ,united   
,states22 and  7#b7 in section #dae--   
7,a7 in subsection 7a77#a71 by striking 
and the ,bureau of ,consumer ,financial 
,protection2  7,b7 in subsection 7c71 by
 striking ,for purposes of implementing 
this section1 the ,chairman of the      
,board of ,governors of the ,federal    
,reserve ,system shall appoint the      
,inspector ,general of the ,board of    
,governors of the ,federal ,reserve     
,system and the ,bureau of ,consumer    
,financial ,protection4 ,the ,inspector 
,general of the ,board of ,governors of 
the ,federal ,reserve ,system and the   
,bureau of ,consumer ,financial         

,protection shall have all of the       
authorities and responsibilities        
provided by this ,act with respect to   
the ,bureau of ,consumer ,financial     
,protection1 as if the ,bureau were part
 of the ,board of ,governors of the     
,federal ,reserve ,system42 and  7,c7 in
 subsection 7g77#c71 by striking and the
 ,bureau of ,consumer ,financial        
,protection4  #c4 ,requirements for the 
,inspector ,general for the ,bureau of  
,consumer ,financial ,protection  7a7   
,establishment ,section #ajaa of the    
,dodd-,frank ,wall ,street ,reform and  
,consumer ,protection ,act 7#ab         
,u4,s4,c4 #edia7 is amended-- 7#a7 in   
subsection 7b7-- 7,a7 in the subsection 
heading1 by striking and ,deputy        
,director and inserting 1 ,deputy       
,director1 and ,inspector ,general2 and 
7,b7 by inserting after paragraph 7#e7  
the following3  7#f7 ,inspector ,general
 ,there is established the position of  
the ,inspector ,general4  2 and  7#b7 in
 subsection 7d71 by striking or ,deputy 

,director each place it appears and     
inserting 1 ,deputy ,director1 or       
,inspector ,general4  7b7 ,hearings     
,section #ajaf of such ,act is amended  
by inserting after subsection 7c7 the   
following3  7d7 ,additional ,requirement
 for ,inspector ,general ,on a separate 
occasion from that described in         
subsection 7a71 the ,inspector ,general 
of the ,bureau shall appear1 upon       
invitation1 before the ,committee on    
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate and the ,committee on    
,financial ,services and the ,committee 
on ,energy and ,commerce of the ,house  
of ,representatives at semiannual       
hearings regarding the reports required 
under subsection 7b7 and the reports    
required under section #dje of title #e1
 ,united ,states ,code4  4  7c7 ,funding
 for ,office of ,inspector ,general     
,section #ajag7;a77#b7 of such ,act is  
amended-- 7#a7 by redesignating         
subparagraph 7,c7 as subparagraph 7,d72 
and  7#b7 by inserting after            

subparagraph 7,b7 the following3  7,c7  
,funding for ,office of ,inspector      
,general ,each fiscal year1 the ,bureau 
shall dedicate #b percent of the funds  
transferred pursuant to paragraph 7#a7  
to the ,office of the ,inspector        
,general4  4  7d7 ,participation in the 
,council of ,inspectors ,general on     
,financial ,oversight ,section          
#ihi;,e7a77#a7 of such ,act is amended  
by adding at the end the following3     
7,j7 ,the ,bureau of ,consumer          
,financial ,protection4  4  7e7         
,deadline for appointment ,not later    
than #fj days after the date of the     
enactment of this ,act1 the ,president  
shall appoint an ,inspector ,general for
 the ,bureau of ,consumer ,financial    
,protection in accordance with section  
#djc of title #e1 ,united ,states ,code4
  #d4 ,effective date  7a7 ,in general  
,the amendments made by this ,act shall 
take effect on the date on which the    
first ,inspector ,general of the ,bureau
 of ,consumer ,financial ,protection is 

confirmed by the ,senate4  7b7          
,appointment ,the ,president may        
appoint1 and the ,senate may confirm1 an
 ,inspector ,general of the ,bureau of  
,consumer ,financial ,protection before 
the amendments made by this ,act take   
effect4  7c7 ,transition ,the ,inspector
 ,general of the ,board of ,governors of
 the ,federal ,reserve ,system and the  
,bureau of ,consumer ,financial         
,protection shall1 upon the date on     
which the first ,inspector ,general of  
the ,bureau of ,consumer ,financial     
,protection is confirmed by the ,senate1
 become the ,inspector ,general of the  
,board of ,governors of the ,federal    
,reserve ,system4