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Increased Accountability for Financial Agencies to Small Businesses

This act aims to increase oversight of government agencies, such as the Consumer Financial Protection Bureau (CFPB), to better consider the impact of their decisions on small businesses. This means agencies will have to more thoroughly justify why their new rules do not account for the specifics of small businesses, potentially leading to more thoughtful regulations and fewer burdens for small businesses.
Key points
Government agencies, including the CFPB, will be required to analyze the impact of proposed rules on small businesses.
A detailed justification will be required if an agency does not consider the specific needs 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
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1606
Sponsor: Rep. Fitzgerald, Scott [R-WI-5]
Process start date: 2025-02-26
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Making the CFPB Accountable to Small Businesses Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1606.

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 2025-02-26.

What are the main provisions?

Key points include:

  • Government agencies, including the CFPB, will be required to analyze the impact of proposed rules on small businesses.
  • A detailed justification will be required if an agency does not consider the specific needs 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 Introduced.

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 2025-12-22.

CATEGORIES

Economy Courts and Law