H.R. 2183 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Financial Services, Mar 18, 2025
What this bill does
In plain words · AI-written from the official summaryCFPB must weigh economic effects of its rules
This bill creates a new Office of Economic Analysis inside the Consumer Financial Protection Bureau, a federal agency that oversees financial companies. The office would review the agency's proposed rules and guidance to check how they affect things like whether consumers have choices, what they pay, and how easily they can get credit. The CFPB would also have to think about these economic effects when creating new rules and explain what problem each rule is meant to solve and how it will measure success.
How it affects you
If you use financial products like credit cards, loans, or bank accounts, this could eventually affect what options are available to you and what you pay for them. The bill requires the CFPB to consider whether its rules help or limit consumer choice and access to credit, so decisions the agency makes would go through this economic review first. Most people won't directly notice the change, but it reshapes how the agency evaluates its own rules.
Read the official summary (Introduced in House, Mar 18, 2025)
CFPB Dual Mandate and Economic Analysis Act
This bill establishes the Office of Economic Analysis in the Consumer Financial Protection Bureau (CFPB). The office must review all proposed guidance, orders, rules, and regulations with respect to their impact on consumer choice, price, and access to credit products. The office must also continue to periodically review these materials and evaluate how well they address the problems that they were intended to address.
The CFPB must consider the office's evaluations and 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 bill revises the purpose of the CFPB to include strengthening private sector participation in markets, without government interference or subsidies, in order to increase competition and enhance consumer choice.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 2183
A BILL
CFPB Dual Mandate and Economic Analysis Act
Sponsor: Rep. Tom Emmer (R-MN-6) · Introduced Mar 18, 2025 · Finance and Financial Sector · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 18, 2025: “Referred to the House Committee on Financial Services.”