[Congressional Record Volume 171, Number 133 (Friday, August 1, 2025)]
[Senate]
[Page S5307]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3535. Mr. SCOTT of Florida submitted an amendment intended to be 
proposed by him to the bill S. 2296, to authorize appropriations for 
fiscal year 2026 for military activities of the Department of Defense, 
for military construction, and for defense activities of the Department 
of Energy, to prescribe military personnel strengths for such fiscal 
year, and for other purposes; which was ordered to lie on the table; as 
follows:

       At the end of subtitle F of title X, add the following:

     SEC. 1067. PRESIDENTIAL APPOINTMENT OF INSPECTOR GENERAL OF 
                   THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE 
                   SYSTEM AND THE BUREAU OF CONSUMER FINANCIAL 
                   PROTECTION.

       (a) In General.--Chapter 4 of title 5, United States Code, 
     is amended--
       (1) in section 401--
       (A) in paragraph (1), by inserting ``the Board of Governors 
     of the Federal Reserve System and the Bureau of Consumer 
     Financial Protection,'' after ``National Security Agency,''; 
     and
       (B) in paragraph (3), by inserting ``the Chairman of the 
     Board of Governors of the Federal Reserve System;'' after 
     ``National Security Agency;'';
       (2) in section 415--
       (A) in subsection (a)(1)(A), by striking ``the Board of 
     Governors of the Federal Reserve System and the Bureau of 
     Consumer Financial Protection,'';
       (B) in subsection (c), by striking the third and fourth 
     sentences; and
       (C) in subsection (g)--
       (i) by striking paragraph (3); and
       (ii) by redesignating paragraph (4) as paragraph (3);
       (3) in section 418, by striking ``or 421'' and inserting 
     ``421, or 425''; and
       (4) by adding at the end the following:

     ``Sec. 425. Special provisions concerning the Board of 
       Governors of the Federal Reserve System and the Bureau of 
       Consumer Financial Protection

       ``(a) In General.--The Inspector General of the Board of 
     Governors of the Federal Reserve System and the Bureau of 
     Consumer Financial Protection shall have all of the 
     authorities and responsibilities provided by this chapter--
       ``(1) with respect to the Bureau of Consumer Financial 
     Protection, as if the Bureau were part of the Board of 
     Governors of the Federal Reserve System; and
       ``(2) with respect to a Federal reserve bank without the 
     permission of the Federal reserve bank.
       ``(b) Relationship to Department of Treasury.--The 
     provisions of subsection (a) of section 412 of this title 
     (other than the provisions of subparagraphs (A), (B), (C), 
     and (E) of subsection (a)(1) of section 412 of this title) 
     shall apply to the Inspector General of the Board of 
     Governors of the Federal Reserve System and the Bureau of 
     Consumer Financial Protection and the Chairman of the Board 
     of Governors of the Federal Reserve System in the same manner 
     as such provisions apply to the Inspector General of the 
     Department of the Treasury and the Secretary of the Treasury, 
     respectively.''.
       (b) Technical and Conforming Amendment.--The table of 
     sections for chapter 4 of title 5, United States Code, is 
     amended by inserting after the item relating to section 424 
     the following:

``425. Special provisions concerning the Board of Governors of the 
              Federal Reserve System and the Bureau of Consumer 
              Financial Protection.''.
       (c) Effective Date.--The amendments made by this section 
     shall take effect on January 31, 2029.
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