This amendment would create a Council of Inspectors General on Financial Oversight (CIGFO) which would simply connect the existing financial agency Inspectors General.  CIGFO would be required to prepare an annual report to Congress and the Financial Stability Oversight Council (FSOC) on specific concerns and recommendations to improve financial oversight from each Inspector General who is a CIGFO member.  This would provide an independent assessment of what issues need to be addressed to strengthen financial oversight on a regular basis, and require FSOC to respond in writing.  Additionally, CIGFO would be authorized to form a Council of Inspectors General Working Group, utilizing IG resources to regularly monitor and report on the effectiveness and internal operations of FSOC.