I
119THCONGRESS
1
STSESSION H. R. 2183
To amend the Consumer Financial Protection Act of 2010 to update the
purpose of the Bureau of Consumer Financial Protection, and for other
purposes.
IN THE HOUSE OF REPRESENTATIVES
MARCH18, 2025
Mr. E
MMERintroduced the following bill; which was referred to the Committee
on Financial Services
A BILL
To amend the Consumer Financial Protection Act of 2010
to update the purpose of the Bureau of Consumer Finan-
cial Protection, and for other purposes.
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 ‘‘CFPB Dual Mandate 4
and Economic Analysis Act’’. 5
SEC. 2. PURPOSE. 6
Section 1021(a) of the Consumer Financial Protec-7
tion Act of 2010 (12 U.S.C. 5511(a)) is amended— 8
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(1) by striking ‘‘fair, transparent, and competi-1
tive’’ and inserting: ‘‘fair and transparent’’; and 2
(2) by adding at the end the following: ‘‘In ad-3
dition, the Bureau shall seek to implement and, 4
where applicable, enforce Federal consumer financial 5
law consistently for the purpose of strengthening 6
private sector participation in markets, without Gov-7
ernment interference or subsidies, to increase com-8
petition and enhance consumer choice.’’. 9
SEC. 3. OFFICE OF ECONOMIC ANALYSIS. 10
(a) I
NGENERAL.—Section 1013 of the Consumer Fi-11
nancial Protection Act of 2010 (12 U.S.C. 5493) is 12
amended by adding at the end the following: 13
‘‘(i) O
FFICE OFECONOMICANALYSIS.— 14
‘‘(1) E
STABLISHMENT.—The Director shall es-15
tablish an Office of Economic Analysis. 16
‘‘(2) R
EVIEW AND ASSESSMENT OF PROPOSED 17
GUIDANCE, ORDERS, RULES AND REGULATIONS .— 18
The Office of Economic Analysis shall— 19
‘‘(A) review all proposed guidance, orders, 20
rules and regulations of the Bureau; 21
‘‘(B) assess the impact of such guidance, 22
orders, rules and regulations on consumer 23
choice, price, and access to credit products; and 24
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‘‘(C) publish a report on such reviews and 1
assessments in the Federal Register. 2
‘‘(3) M
EASURING EXISTING RULES , REGULA-3
TIONS, GUIDANCE, AND ORDERS.—The Office of 4
Economic Analysis shall— 5
‘‘(A) review each rule, regulation, guid-6
ance, and order issued by the Bureau after 1, 7
2, 5, and 10 years; 8
‘‘(B) measure the rule, regulation, guid-9
ance, or order’s success in solving the problem 10
that the rule, regulation, guidance, or order was 11
intended to solve when issued; and 12
‘‘(C) publish a report on such review and 13
measurement in the Federal Register.’’. 14
(b) C
ONSIDERATION OF REVIEW ANDASSESSMENT; 15
R
ULEMAKINGREQUIREMENTS.—Section 1022(b) of the 16
Consumer Financial Protection Act of 2010 (12 U.S.C. 17
5512(b)) is amended by adding at the end the following: 18
‘‘(5) C
ONSIDERATION OF REVIEW AND ASSESS -19
MENT BY THE OFFICE OF ECONOMIC ANALYSIS .— 20
‘‘(A) I
N GENERAL.—Before issuing any 21
guidance, order, rule, or regulation, the Direc-22
tor shall consider the review and assessment of 23
such guidance, order, rule, or regulation carried 24
out by the Office of Economic Analysis. 25
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‘‘(B) NOTICE OF DISAGREEMENT .—If the 1
Director disagrees with any part of a review 2
and assessment described under subparagraph 3
(A) with respect to any guidance, order, rule, or 4
regulation, the Director shall accompany any 5
such guidance, order, rule, or regulation with a 6
statement explaining why the Director so dis-7
agrees. 8
‘‘(6) I
DENTIFICATION OF PROBLEMS AND 9
METRICS FOR JUDGING SUCCESS .— 10
‘‘(A) I
N GENERAL.—The Director shall, in 11
each proposed rulemaking of the Bureau— 12
‘‘(i) identify the problem that the par-13
ticular rule or regulations is seeking to 14
solve; and 15
‘‘(ii) specify the metrics by which the 16
Bureau will measure the success of the 17
rule or regulation in solving such problem. 18
‘‘(B) R
EQUIRED METRICS .—The metrics 19
specified under subparagraph (A)(ii) shall in-20
clude a measurement of changes to consumer 21
access to, and cost of, consumer financial prod-22
ucts and services.’’. 23
Æ
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