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