H.R. 2331 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Financial Services, Mar 25, 2025
What this bill does
In plain words · AI-written from the official summaryCFPB must disclose rule costs and benefits
The Consumer Financial Protection Bureau (CFPB) is the federal agency that oversees financial companies and protects consumers. Right now, when the CFPB creates new rules, it doesn't have to share detailed information about how much those rules will cost or what benefits they'll bring. This bill would require the CFPB to publish a clear justification for any new rule, along with a detailed analysis of both the costs and benefits, other options they considered, and how the rule would affect small businesses.
How it affects you
If you work in or own a financial services company, you'd have more transparency about why new CFPB rules exist and what they're supposed to accomplish. For regular people using banks, credit cards, or other financial products, this change mostly affects the behind-the-scenes process of how rules get made, though it could influence what kinds of protections or restrictions get put in place.
Read the official summary (Introduced in House, Mar 25, 2025)
Transparency in CFPB Cost-Benefit Analysis Act
This bill sets forth information required to be included in a rulemaking made by the Consumer Financial Protection Bureau (CFPB). Specifically, the CFPB must publish a justification of the proposed rulemaking; a quantitative and qualitative assessment of all anticipated direct and indirect costs and benefits; alternatives to the proposed rulemaking; impacts on small businesses; and any assumptions, data, or studies used in preparing this information.
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. 2331
A BILL
Transparency in CFPB Cost-Benefit Analysis Act
Sponsor: Rep. Barry Loudermilk (R-GA-11) · Introduced Mar 25, 2025 · Finance and Financial Sector · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 25, 2025: “Referred to the House Committee on Financial Services.”