S. 1627 — 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.

S. 1627 — 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. | JustPolicyThe main purpose of this legislation is to change how the Inspector General (IG) for the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection is appointed. Currently, the IG is appointed without the need for presidential approval or Senate confirmation. This bill requires that the President appoints the IG and that this appointment is confirmed by the Senate, which aims to increase accountability and oversight of these important financial institutions.