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HR 527 117th Congress House Finance and Financial Sector Administrative law and regulatory procedures Competition and antitrust Consumer Financial Protection Bureau Consumer credit Economic performance and conditions Executive agency funding and structure Financial services and investments Performance measurement

CFPB Dual Mandate and Economic Analysis Act

Introduced: January 28, 2021 Introduced by: Emmer, Tom Republican · Minnesota See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 28, 2021
Referred to the House Committee on Financial Services.
Jan 28, 2021
Introduced in House
 Plain-English summary Congressional Research Service

CFPB Dual Mandate and Economic Analysis Act

This bill establishes the Office of Economic Analysis in the Consumer Financial Protection Bureau (CFPB) to review all proposed and existing guidance, orders, rules, and regulations. The CFPB must also identify in each proposed rulemaking the problem to be solved by the rule or regulation and the metrics the CFPB will use to measure the success of the rule or regulation. These metrics must include a measurement of changes regarding consumer access to, and the cost of, consumer financial products and services.

Additionally, the purpose of the CFPB is revised to include strengthening private sector participation in markets, without government interference or subsidies, to increase competition and enhance consumer choice.

What's happening now January 28, 2021

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1