Consumer Financial Protection Oversight Act of 2011 - Amends the Consumer Financial Protection Act of 2010 to transfer to the Department of the Treasury the Bureau of Consumer Financial Protection (CFPB) currently established as an independent bureau in the Federal Reserve System.
Prohibits the Secretary of the Treasury from interfering with the autonomy granted the Bureau under such Act.
Eliminates Bureau participation in both the Federal Reserve System Retirement Plan and in the Federal Reserve System Thrift Plan.
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