arrow_back Back to App

Increased Accountability for Financial Agencies Towards Small Businesses

This new act requires financial agencies, like the CFPB, to more thoroughly analyze the impact of new regulations on small businesses. This means agencies will need to justify why certain rules do not consider the specific needs of small entities, potentially leading to more thoughtful and less burdensome regulations for entrepreneurs.
Key points
Financial agencies must now assess the impact of proposed rules on small businesses.
Detailed justification is required if an agency does not consider the specifics of small businesses in new regulations.
The goal is to minimize additional credit costs for small entities resulting from new rules.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_1749
Sponsor: Rep. Fitzgerald, Scott [R-WI-5]
Process start date: 2023-03-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Making the CFPB Accountable to Small Businesses Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1749.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-23.

What are the main provisions?

Key points include:

  • Financial agencies must now assess the impact of proposed rules on small businesses.
  • Detailed justification is required if an agency does not consider the specifics of small businesses in new regulations.
  • The goal is to minimize additional credit costs for small entities resulting from new rules.
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 Rep. Fitzgerald, Scott [R-WI-5].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy Courts and Law