Bill · H.R. 1606· House(119-HR-1606)
Making the CFPB Accountable to Small Businesses Act of 2025
- Introduced
- 2/26/2025
- Last activity
- 2/26/2025 — Referred to the Committee on the Judiciary, and in addition to the Committees on Small Business, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Sponsored by
- Scott Fitzgerald
- Cosponsors
- - 3 - 0
- Introduced
- In Committee
What this bill would do
This bill, titled the "Making the CFPB Accountable to Small Businesses Act of 2025," aims to increase requirements for covered agencies regarding regulatory flexibility analysis. It proposes amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act to include the impact of proposed rules on small entities. Additionally, it modifies Title 5 of the United States Code to require more detailed justifications from agencies. These justifications must explain why the size and resources of small entities should not affect a rule when no alternatives are adopted. The bill seeks to ensure agencies document their decisions with factual, policy, and legal reasons.
Yes· 3 of 4
Would business owners be better off under this?+5
The bill aims to reduce the regulatory burden on small entities by forcing agencies to justify why they aren't minimizing costs.
Does this make it easier to run a small business?+5
The bill requires agencies to consider and justify why they are not adopting alternatives to minimize the cost of credit for small entities.
Does this make what the government does easier for the public to see?+4
The bill mandates that agencies provide detailed, fact-based, and legal justifications when they do not adopt regulatory alternatives for small entities.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Transparency for Small Businesses: By requiring a description of steps taken to minimize additional costs of credit for small entities, the bill seeks to ensure agencies are considering the financial burden on these groups (Section 4).
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Accountability in Rulemaking: The bill requires agencies to provide a detailed justification, supported by factual, policy, and legal reasons, if they decide not to adopt alternatives that account for the size and resources of small entities (Section 3 and Section 4).
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Mandatory Impact Assessments: The amendment to the Dodd-Frank Act requires agencies to consider the impact of proposed rules specifically on small entities (Section 2).
Potential Negative Impacts for People
- No specific negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+5Good For Rural Residents+3
- Economy And Finance
- Improves Small Business Support+5
- Governance And Ideology
- Improves Government Transparency+4
- 3/31/2025
- 1 Cosponsor added.
- 3/26/2025
- 1 Cosponsor added.
- 2/26/2025
- Referred to the Committee on the Judiciary, and in addition to the Committees on Small Business, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Andy BarrRepublican · Kentucky
Pat FallonRepublican · Texas
Daniel MeuserRepublican · Pennsylvania