HR 2489 118th Congress House Finance and Financial Sector

CFPB Dual Mandate and Economic Analysis Act

Introduced: April 6, 2023 Introduced by: Emmer, Tom Republican · Minnesota See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 6, 2023

Referred to the House Committee on Financial Services.

Apr 6, 2023

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 April 6, 2023

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1