Bills · HR 2513
IN COMMITTEE· 119TH CONGRESS
House BillHR 2513Finance and Financial Sector
CFPB–IG Reform Act of 2025
INTRO MAR 31· LAST ACTION MAR 31
READING
4MIN
COSPONSORS
6
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it changes how a key financial watchdog, the CFPB, is overseen. The CFPB is responsible for protecting consumers in areas like mortgages, credit cards, and student loans. By giving it its own, Senate-confirmed Inspector General, the bill aims to strengthen accountability and transparency within the agency. Voters should care because a more effective and transparent CFPB can better protect their financial interests, ensuring the agency itself is operating ethically and efficiently.
If this bill becomes law, there will be a new layer of independent oversight specifically focused on the CFPB, potentially leading to more public reporting on the agency's performance and any issues found. If it doesn't become law, the CFPB would continue to share an Inspector General with the Federal Reserve, an arrangement that some argue doesn't provide sufficient independent oversight for such a large and impactful agency.
KEY PROVISIONS
4AI-extractedPROVISION 01
Establishes a separate, independent Inspector General (IG) for the Bureau of Consumer Financial Protection (CFPB).
This creates a dedicated watchdog specifically for the CFPB, rather than sharing one with the Federal Reserve, aiming for more focused oversight.
PROVISION 02
Requires the President to appoint and the Senate to confirm the new CFPB Inspector General.
This elevates the position, subjecting the IG to a more rigorous appointment process involving both the executive and legislative branches.
PROVISION 03
Mandates that the CFPB dedicate 2% of its annual funding to its new Office of the Inspector General.
This ensures the IG's office has a guaranteed budget to conduct its audits and investigations, fostering financial independence.
PROVISION 04
Requires the CFPB Inspector General to hold semiannual hearings with specific Congressional committees.
This increases direct accountability to Congress, providing regular public updates on the CFPB's operations and any oversight findings.
SPONSORSHIP
1 + 6
R· Pennsylvania
YRS IN OFFICE
7
BILLS LED
20
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 6 IND 0
ACTION TIMELINE
2 EVENTSMAR 31
Introduced in House
MAR 31
Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
BILL INFO
TypeHouse Bill
NumberHR 2513
Congress119th
StatusIn Committee
IntroducedMar 31, 2025
Last actionMar 31, 2025
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IN COMMITTEE· 119TH CONGRESS · OVERSIGHT AND GOVERNMENT REFORM COMMITTEE · INTRODUCED MAR 31, 2025
House BillHR 2513Finance and Financial Sector
CFPB–IG Reform Act of 2025
INTRODUCED MAR 31, 2025· LAST ACTION MAR 31, 2025
PASSAGE CHANCES
—%
READING
4 min
COSPONSORS
6
COMPLEXITY
Moderate
