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.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Administrative law and regulatory proceduresCompetition and antitrustConsumer creditConsumer Financial Protection BureauEconomic performance and conditionsExecutive agency funding and structureFinancial services and investmentsPerformance measurement
CFPB Dual Mandate and Economic Analysis Act
USA117th CongressHR-527| House
| Updated: 1/28/2021
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.
Administrative law and regulatory proceduresCompetition and antitrustConsumer creditConsumer Financial Protection BureauEconomic performance and conditionsExecutive agency funding and structureFinancial services and investmentsPerformance measurement