S. 626 – CFPB-IG Act of 2017

AI-Generated Summary

Updated April 15, 2026 at 1:42 PM UTC

The CFPB‑IG Act of 2017 changes how the Inspector General (IG) for the Consumer Financial Protection Bureau (CFPB) is appointed. It makes the IG’s appointment subject to Senate confirmation, shifting the process from the existing internal or executive method. The bill also updates the Inspector General Act of 1978 to reflect the CFPB’s role in the IG system.

Key Provisions

Requires that the Inspector General of the CFPB be confirmed by the Senate, rather than being appointed without Senate involvement.
Amends the Inspector General Act of 1978 by removing outdated references to the CFPB in certain subsections and inserting new language that explicitly includes the CFPB’s Director and the bureau in the appointment and oversight framework.

Legislative Activity

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1 earlier action

SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

March 14, 2017

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SenateIntro Referral

Introduced in Senate

March 14, 2017

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

March 14, 2017

Bill Text

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Introduced in SenateIssued March 14, 2017

II

115th CONGRESS

1st Session

S. 626

IN THE SENATE OF THE UNITED STATES

March 14, 2017

Mr. Portman (for himself, Mr. Enzi, Mr. Heller, Mr. Isakson, Mr. Barrasso, Mr. Hoeven, Ms. Collins, Mr. Blunt, Mr. Boozman, and Mr. Cochran) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To require Senate confirmation of the Inspector General of the Bureau of Consumer Financial Protection, and for other purposes.

1.

Short title

This Act may be cited as the Bureau of Consumer Financial Protection-Inspector General Reform Act of 2017 or the CFPB-IG Act of 2017.

2.

Appointment of Inspector General

The Inspector General Act of 1978 (5 U.S.C. App.) is amended—

(1)

in section 8G—

(A)

in subsection (a)(2), by striking and the Bureau of Consumer Financial Protection;

(B)

in subsection (c), by striking For the purposes of implementing this section and all that follows through the end of the subsection; and

(C)

in subsection (g)(3), by striking and the Bureau of Consumer Financial Protection; and

(2)

in section 12—

(A)

in paragraph (1), by inserting the Director of the Bureau of Consumer Financial Protection; after the President of the Export-Import Bank;; and

(B)

in paragraph (2), by inserting the Bureau of Consumer Financial Protection, after the Export-Import Bank,.