Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1606 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 1606
5	5	To impose additional requirements for covered agencies in regulatory flexibility
6	6	analysis.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	FEBRUARY26, 2025
9	9	Mr. F
10	10	ITZGERALD(for himself and Mr. FALLON) introduced the following bill;
11	11	which was referred to the Committee on the Judiciary, and in addition
12	12	to the Committees on Small Business, and Financial Services, for a pe-
13	13	riod to be subsequently determined by the Speaker, in each case for con-
14	14	sideration of such provisions as fall within the jurisdiction of the com-
15	15	mittee concerned
16	16	A BILL
17	17	To impose additional requirements for covered agencies in
18	18	regulatory flexibility analysis.
19	19	Be it enacted by the Senate and House of Representa-1
20	20	tives of the United States of America in Congress assembled, 2
21	21	SECTION 1. SHORT TITLE. 3
22	22	This Act may be cited as the ‘‘Making the CFPB Ac-4
23	23	countable to Small Businesses Act of 2025’’. 5
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26	26	•HR 1606 IH
27	27	SEC. 2. RULEMAKING UNDER DODD-FRANK WALL STREET 1
28	28	REFORM AND CONSUMER PROTECTION ACT. 2
29	29	Section 1022(b)(2)(A) of the Dodd-Frank Wall 3
30	30	Street Reform and Consumer Protection Act (12 U.S.C. 4
31	31	5512(b)(2)(A)) is amended— 5
32	32	(1) in clause (i), by striking ‘‘and’’ at the end; 6
33	33	(2) in clause (ii), by striking the semicolon at 7
34	34	the end and inserting ‘‘; and’’; and 8
35	35	(3) by adding at the end the following: 9
36	36	‘‘(iii) the impact of proposed rules on 10
37	37	small entities, in accordance with section 11
38	38	609 of title 5, United States Code;’’. 12
39	39	SEC. 3. INITIAL REGULATORY FLEXIBILITY ANALYSIS. 13
40	40	Section 603(d)(1) of title 5, United States Code, is 14
41	41	amended— 15
42	42	(1) in subparagraph (B), by striking ‘‘and’’ at 16
43	43	the end; 17
44	44	(2) in subparagraph (C), by striking the period 18
45	45	and inserting ‘‘; and’’; and 19
46	46	(3) by adding at the end the following: 20
47	47	‘‘(D) where the covered agency does not 21
48	48	adopt any alternatives described in paragraphs 22
49	49	(1) through (4) of subsection (c), a detailed jus-23
50	50	tification of the covered agency’s determination 24
51	51	that the relative size and resources of small en-25
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54	54	•HR 1606 IH
55	55	tities should have no bearing on the rule, sup-1
56	56	ported by factual, policy and legal reasons.’’. 2
57	57	SEC. 4. FINAL REGULATORY FLEXIBILITY ANALYSIS. 3
58	58	Section 604(a) of title 5, United States Code, is 4
59	59	amended in the second paragraph (6) to read as follows: 5
60	60	‘‘(7) for a covered agency, as defined in section 6
61	61	609(d)(2), a description of the steps the agency has 7
62	62	taken to minimize any additional cost of credit for 8
63	63	small entities and, where no significant alternatives 9
64	64	for small entities was adopted, a detailed justifica-10
65	65	tion of the covered agency’s determination that the 11
66	66	relative size and resources of small entities should 12
67	67	have no bearing on the rule, supported by factual, 13
68	68	policy and legal reasons.’’. 14
69	69	Æ
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