S Amdt 4072 - Inspector General Appointment Modification - National Key Vote
Timeline
- Senate Amendment Adopted
- May 18, 2010
- Introduced
- May 18, 2010
Related Legislation
- S Amdt 3826 - Consumer Financial Protection Division Within The FDIC
- S Amdt 3839 - Termination of Fannie Mae and Freddie Mac Conservatorships
- S Amdt 3938 - Study on Ending the Conservatorships of Fannie Mae and Freddie Mac
- S Amdt 3760 - Federal Reserve Audit
- S Amdt 3816 - Derivatives Regulation Modifications
- S Amdt 3962 - Home Loan Regulation Modifications
- S Amdt 3955 - Establishing New Mortgage Underwriting Requirements and Eliminating a Risk Retention Requirement
- S Amdt 3991 - Credit Rating Agency Board
- S Amdt 3832 - Establishing Bankruptcy Process for Non-bank Financial Institutions
- S Amdt 3989 - Debit Card Fee Regulations
- S Amdt 3987 - Bureau of Consumer Financial Protection Termination
- S Amdt 4051 - Prohibiting Funding of State and Local Governments to Prevent Defaulting on Debt
- S Amdt 4034 - Federal Preemption Over State Consumer Financial Laws
- S Amdt 4071 - Amending State Authority to Enforce Consumer Financial Regulations
- S Amdt 4114 - Credit Default Swap Regulations
- S Amdt 3746 - Allowing States to Limit Credit Card Interest Rates
Related Issues
Stage Details
See How Your Politicians Voted
Title: Inspector General Appointment Modification
Vote Smart's Synopsis:
Vote to adopt an amendment to S Amdt 3739 to S 3217 that repeals an expansion of presidential authority to appoint and terminate Inspectors General of specific regulatory agencies, increases oversight of Inspectors General, and establishes a Council of Inspectors General on Financial Oversight.
Highlights:
- Repeals an expansion of presidential authority to appoint and terminate inspectors general of the following offices (Sec. 989B):
- Board of Governors of the Federal Reserve System;
- Commodity Futures Trading Commission;
- National Credit Union Administration;
- Pension Benefit Guaranty Corporation; and
- Securities and Exchange Commission.
- Requires the approval of 2/3 of the board or commission serving as the head of any entity of an Office of Inspector General to remove an inspector general (Sec. 989D).
- Expands oversight of inspectors general to include the board or commission of the entity, whereas existing law requires inspectors general to only report to the head of the entity (Sec. 989B).
- Establishes a Council of Inspectors Generals on Financial Oversight, chaired by the Inspector General of the Department of the Treasury, consisting of the inspectors general of the following (Sec. 989E):
- Board of Governors of the Federal Reserve System;
- Commodity Futures Trading Commission;
- Department of Housing and Urban Development;
- Department of the Treasury;
- Federal Deposit Insurance Corporation;
- Federal Housing Finance Agency;
- National Credit Union Administration;
- Securities and Exchange Commission; and
- Troubled Asset Relief Program.
- Requires the Council of Inspectors General to meet at least once each quarter to facilitate the sharing of information among inspectors general and to discuss the ongoing work of each inspector general, with a focus on the broader financial sector and ways to improve financial oversight (Sec. 989E).
- Requires the Council of Inspectors General to submit an annual report to Congress that includes, but is not limited to, the following (Sec. 989E):
- A section within exclusive editorial control for each inspector general that is a member of the Council that highlights the concerns and recommendations of such inspector general, with a focus on the broader financial sector; and
- A summary of the general observations of the Council based on the aforementioned editorials submitted by each inspector general, with a focus on measures to improve financial oversight.
Title: Inspector General Appointment Modification