PlainBillCongress, translated.Legislation. Context. Public interest.Placed on Senate Legislative Calendar under General Orders. Calendar No. 320.
Congressional Research Service
Version 01 · Reported to Senate with amendment(s) · Mar 16, 2010
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.
People & committees
Rep. Larson, John B. [D-CT-1] · D–CT
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 320.
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.
Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment favorably.
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Received in the Senate.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6284)
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)
DEBATE - The House proceeded with forty minutes of debate on H.R. 885.
Considered under suspension of the rules. (consideration: CR H6284-6286)
Mr. Lynch moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 57.
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.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Oversight and Government Reform.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Jan 14, 2026. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze H.R.885 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.885 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.885 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.885 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.