119-hr1606

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1606 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 1606

 To impose additional requirements for covered agencies in regulatory 
 flexibility analysis.

_______________________________________________________________________

 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.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Making the CFPB Accountable to Small 
Businesses Act of 2025''.

SEC. 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;''.

SEC. 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.''.

SEC. 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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