I rise to support common sense legislation that will bring transparency and accountability to the Federal Reserve Board and Consumer Financial Protection Bureau. Currently, the Inspector General of the Fed is appointed by the Fed chair. This is highly unusual, and it means that the Inspector general has no independence from the management of the Fed and is susceptible to influence. This is an unacceptable arrangement. I think we all agree that inspectors general cannot do their jobs without independents. (06:39–06:51)
CLAIM
Asserts that the appointment process of the Fed's Inspector General is unusual and compromises independence.
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