H.R.2513 - Bureau of Consumer Financial Protection-Inspector General Reform Act of 2025; CFPB–IG Reform Act of 2025 (119th Congress)
Summary
H.R.2513, the CFPB-IG Reform Act of 2025, aims to enhance the independence and oversight of the Bureau of Consumer Financial Protection (CFPB) by requiring Senate confirmation of its Inspector General (IG). The bill establishes the position of Inspector General within the CFPB, separate from the Federal Reserve System, and mandates dedicated funding for the IG's office. It also requires the IG to appear before congressional committees to report on the CFPB's activities.
Expected Effects
The primary effect of this bill would be increased scrutiny and accountability of the CFPB. This is achieved through an independent, Senate-confirmed Inspector General. The dedicated funding and mandated congressional appearances would further ensure the IG's ability to effectively oversee the CFPB's operations.
Potential Benefits
- Enhanced oversight of the CFPB, leading to more efficient and effective operations.
- Increased accountability of the CFPB to Congress and the public.
- Improved transparency in the CFPB's activities.
- A dedicated funding stream for the Office of Inspector General, ensuring its independence.
- Greater public confidence in the CFPB's ability to protect consumers.
Most Benefited Areas:
Potential Disadvantages
- Potential for political gridlock in the Senate confirmation process, delaying the appointment of an IG.
- Increased bureaucracy and potential for conflicts between the CFPB Director and the IG.
- The dedicated funding for the IG's office could reduce the funds available for other CFPB programs.
- The increased oversight could lead to a more cautious and less innovative CFPB.
- Potential for the IG to be used for political purposes, rather than objective oversight.
Constitutional Alignment
The bill aligns with the Constitution's principles of checks and balances by enhancing congressional oversight of an executive agency. Specifically, the requirement for Senate confirmation of the Inspector General reflects the Senate's role in advising and consenting to presidential appointments, as outlined in Article II, Section 2. The bill also aligns with Congress's power to legislate and oversee the activities of government agencies, as granted by Article I, Section 8.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).