To elevate the Inspector General of certain Federal entities to an Inspector General appointed pursuant to section 3 of the Inspector General Act of 1978.
Improved Financial and Commodity Markets Oversight and Accountability Act - Amends the Inspector General Act of 1978 to include the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission (CFTC), the National Credit Union Administration (NCUA), the Pension Benefit Guaranty Corporation (PBGC), and the Securities and Exchange Commission (SEC) as establishments the Inspector Generals of which shall be appointed by the President.
Applies existing pay requirements under the Inspector General Reform Act of 2008 to the Inspectors General of such entities. Permits such Inspectors General to select, appoint, and employ such officers and employees as necessary and to obtain services of experts or consultants.
Authorizes such Inspectors General to subpoena records and testimony necessary in the performance of their assigned functions.
Requires the heads of those entities to: (1) take action to address deficiencies identified by their Inspector General; or (2) certify to both Houses of Congress that no action is necessary or appropriate.
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Oversight and Government Reform.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Reported (Amended) by the Committee on Oversight and Government. H. Rept. 111-114.
Reported (Amended) by the Committee on Oversight and Government. H. Rept. 111-114.
Placed on the Union Calendar, Calendar No. 57.
Mr. Lynch moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H6284-6286)
DEBATE - The House proceeded with forty minutes of debate on H.R. 885.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6284)
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On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6284)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate.
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment favorably.
Committee on Homeland Security and Governmental Affairs. Reported by Senator Lieberman with amendments. Without written report.
Committee on Homeland Security and Governmental Affairs. Reported by Senator Lieberman with amendments. Without written report.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 320.