Requires financial watchdog to show costs and benefits of new rules.
This bill would require the Bureau of Consumer Financial Protection (CFPB) to provide detailed reports on the costs and benefits of any new financial rules it proposes. It aims to make sure the CFPB fully explains why a new rule is needed and how it might affect consumers, small businesses, and the economy. This means future financial regulations would come with a clear public explanation of their potential impacts.
Today, the Bureau of Consumer Financial Protection (CFPB) issues proposed rules with general explanations. If this bill becomes law, the CFPB would be required to publish extensive details for every proposed rule, including specific quantitative and qualitative cost-benefit analyses, justifications for why the rule is needed, and examinations of alternative solutions. This would mean a much more public and detailed review process for all new financial regulations.
HR 2331 · 119th Congress · March 25, 2025 · AI Summary by gemini-2.5-flash · 10/10
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8 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.