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Enhanced Transparency in Consumer Financial Protection Bureau Rulemaking

This act aims to increase transparency in the Consumer Financial Protection Bureau's (CFPB) rulemaking process. It requires the CFPB to conduct more thorough analyses and disclose the costs and benefits of proposed regulations, potentially influencing how new rules affect businesses and consumers.
Key points
The agency must justify the need for new regulations and explain why private markets or local authorities cannot address the issue.
It will be required to assess if new rules duplicate or conflict with existing regulations and how to reduce associated burdens.
The CFPB must provide a quantitative and qualitative assessment of all anticipated costs and benefits, including for small businesses and the economy.
If costs for small businesses increase, the agency must consult with the Office of Advocacy within the Small Business Administration to minimize negative impacts.
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Status:
Expired
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Additional Information
Print number: 117_S_4522
Sponsor: Sen. Kennedy, John [R-LA]
Process start date: 2022-07-13
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Transparency in CFPB Cost-Benefit Analysis Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4522.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-07-13.

What are the main provisions?

Key points include:

  • The agency must justify the need for new regulations and explain why private markets or local authorities cannot address the issue.
  • It will be required to assess if new rules duplicate or conflict with existing regulations and how to reduce associated burdens.
  • The CFPB must provide a quantitative and qualitative assessment of all anticipated costs and benefits, including for small businesses and the economy.
  • If costs for small businesses increase, the agency must consult with the Office of Advocacy within the Small Business Administration to minimize negative impacts.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Kennedy, John [R-LA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Courts and Law