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.

This bill (S 915) would require the President to appoint and the Senate to confirm the Inspectors General (IGs) for both the Federal Reserve Board of Governors and the Consumer Financial Protection Bureau (CFPB). Currently, these IGs may be appointed without Senate confirmation, but this bill would change that process for both positions. The key mechanism is amending federal law to add a new section (425) specifying that these IGs must be appointed by the President with Senate advice and consent, aligning their appointment process with other major agency IGs. The bill does not alter the IGs' duties or oversight authority, only the appointment procedure. This directly affects the Federal Reserve and CFPB by changing how their top internal auditors are selected.