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.

SA 3535. Mr. SCOTT of Florida submitted an amendment intended to be
proposed by him to the bill S. 2296, to authorize appropriations for
fiscal year 2026 for military activities of the Department of Defense,
for military construction, and for defense activities of the Department
of Energy, to prescribe military personnel strengths for such fiscal
year, and for other purposes; which was ordered to lie on the table; as
follows:

At the end of subtitle F of title X, add the following:

SEC. 1067. PRESIDENTIAL APPOINTMENT OF INSPECTOR GENERAL OF
THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE
SYSTEM AND THE BUREAU OF CONSUMER FINANCIAL
PROTECTION.

(a) In General.--Chapter 4 of title 5, United States Code,
is amended--
(1) in section 401--
(A) in paragraph (1), by inserting ``the Board of Governors
of the Federal Reserve System and the Bureau of Consumer
Financial Protection,'' after ``National Security Agency,'';
and
(B) in paragraph (3), by inserting ``the Chairman of the
Board of Governors of the Federal Reserve System;'' after
``National Security Agency;'';
(2) in section 415--
(A) in subsection (a)(1)(A), by striking ``the Board of
Governors of the Federal Reserve System and the Bureau of
Consumer Financial Protection,'';
(B) in subsection (c), by striking the third and fourth
sentences; and
(C) in subsection (g)--
(i) by striking paragraph (3); and
(ii) by redesignating paragraph (4) as paragraph (3);
(3) in section 418, by striking ``or 421'' and inserting
``421, or 425''; and
(4) by adding at the end the following:

``Sec. 425. Special provisions concerning the Board of
Governors of the Federal Reserve System and the Bureau of
Consumer Financial Protection

``(a) In General.--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 chapter--
``(1) with respect to the Bureau of Consumer Financial
Protection, as if the Bureau were part of the Board of
Governors of the Federal Reserve System; and
``(2) with respect to a Federal reserve bank without the
permission of the Federal reserve bank.
``(b) Relationship to Department of Treasury.--The
provisions of subsection (a) of section 412 of this title
(other than the provisions of subparagraphs (A), (B), (C),
and (E) of subsection (a)(1) of section 412 of this title)
shall apply to the Inspector General of the Board of
Governors of the Federal Reserve System and the Bureau of
Consumer Financial Protection and the Chairman of the Board
of Governors of the Federal Reserve System in the same manner
as such provisions apply to the Inspector General of the
Department of the Treasury and the Secretary of the Treasury,
respectively.''.
(b) Technical and Conforming Amendment.--The table of
sections for chapter 4 of title 5, United States Code, is
amended by inserting after the item relating to section 424
the following:

``425. Special provisions concerning the Board of Governors of the
Federal Reserve System and the Bureau of Consumer
Financial Protection.''.
(c) Effective Date.--The amendments made by this section
shall take effect on January 31, 2029.
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