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HR.1606 · 119TH CONGRESS

Making the CFPB Accountable to Small Businesses Act of 2025

Status
In Committee
Latest Action
2025-02-26
Sponsor
Fitzgerald, Scott (R-Wisconsin)
Official Source
Investability
38/100
Stage
COMMITTEE
Related Bills
0
Full Text
2,618 chars
Alive
Yes

What This Bill Does · Plain English

GovGreed Synthesis · AI extraction
This bill amends the Dodd-Frank Act and the Regulatory Flexibility Act to impose additional requirements on 'covered agencies' (specifically targeting the Consumer Financial Protection Bureau, or CFPB) when they conduct rulemaking. It mandates that these agencies include an analysis of the impact of proposed rules on small entities and, if they choose not to adopt alternatives that reduce burdens on small businesses, provide a detailed justification for that decision.

Frequently Asked Questions

Did HR.1606 pass?
HR.1606 is still alive. Current stage: COMMITTEE. Pass likelihood: 38%.
What does HR.1606 do?
This bill amends the Dodd-Frank Act and the Regulatory Flexibility Act to impose additional requirements on 'covered agencies' (specifically targeting the Consumer Financial Protection Bureau, or CFPB) when they conduct rulemaking. It mandates that these agencies include an analysis of the impact of proposed rules on small entities and, if they choose not to adopt alternatives that reduce burdens on small businesses, provide a detailed justification for that decision.
Who sponsored HR.1606?
HR.1606 was sponsored by Scott Fitzgerald (R-Wisconsin).

Full Bill Text

119 HR 1606 IH: Making the CFPB Accountable to Small Businesses Act of 2025 U.S. House of Representatives 2025-02-26 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 1606 IN THE HOUSE OF REPRESENTATIVES February 26, 2025 Mr. Fitzgerald (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 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 A BILL To impose additional requirements for covered agencies in regulatory flexibility analysis. 1. Short title This Act may be cited as the Making the CFPB Accountable to Small Businesses Act of 2025 . 2. Rulemaking under Dodd-Frank Wall Street Reform and Consumer Protection Act Section 1022(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5512(b)(2)(A) ) is amended— (1) in clause (i), by striking and at the end; (2) in clause (ii), by striking the semicolon at the end and inserting ; and ; and (3) by adding at the end the following: (iii) the impact of proposed rules on small entities, in accordance with section 609 of title 5, United States Code; . 3. Initial regulatory flexibility analysis Section 603(d)(1) of title 5, United States Code, is amended— (1) in subparagraph (B), by striking and at the end; (2) in subparagraph (C), by striking the period and inserting ; and ; and (3) by adding at the end the following: (D) where the covered agency does not adopt any alternatives described in paragraphs (1) through (4) of subsection (c), a detailed justification of the covered agency’s determination that the relative size and resources of small entities should have no bearing on the rule, supported by factual, policy and legal reasons. . 4. Final regulatory flexibility analysis Section 604(a) of title 5, United States Code, is amended in the second paragraph (6) to read as follows: (7) for a covered agency, as defined in section 609(d)(2), a description of the steps the agency has taken to minimize any additional cost of credit for small entities and, where no significant alternatives for small entities was adopted, a detailed justification of the covered agency’s determination that the relative size and resources of small entities should have no bearing on the rule, supported by factual, policy and legal reasons. .
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Bill text sourced from GovInfo.gov · public domain · last updated 2026-08-28. Plain-English summary, score breakdown, and trading-intelligence panels are GovGreed-original analysis derived from STOCK Act filings, SEC Form 4 disclosures, FEC contributions, and Senate LDA lobbying reports — all publicly filed federal records. GovGreed is not affiliated with the U.S. Government. Not financial advice. [live render]