Ohio Lawmakers Reintroduce Bill to Add Congressional Oversight to CFPB (Feb. 17, 2015)
Lawmakers last week reintroduced a bill to add congressional oversight for the CFPB, which currently operates independently. Ohio Reps. Steve Stivers, a Republican, and Tim Walz, a Democrat, proposed the Bureau of Consumer Financial Protection-Inspector General Act, which would create an Inspector General position at the CFPB. More than 30 federal departments have an independent Inspector General, according to Stivers. “Government accountability is important . . . this legislation will allow for increased oversight of an agency that has been given broad authority,” he said, according to a statement. Stivers introduced a similar bill in 2013, but it died in chamber discussions.