PCLOB is an independent, bipartisan agency within the executive branch established by the Implementing Recommendations of the 9/11 Commission Act, Pub. L. 110-53, signed into law in August 2007. Comprised of four part-time members and a full-time chairman, PCLOB is vested with two fundamental authorities: (1) To review and analyze actions the executive branch takes to protect the Nation from terrorism, ensuring the need for such actions is balanced with the need to protect privacy and civil liberties and (2) To ensure that liberty concerns are appropriately considered in the development and implementation of laws, regulations, and policies related to efforts to protect the Nation against terrorism.
Link to text of law: Implementing Recommendations of the 9/11 Commission Act, Pub. L. 110-53