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119-hr-1606119th CongressWALLET

Making the CFPB Accountable to Small Businesses Act of 2025

Sponsored By: Representative Fitzgerald, Scott [R-WI-5]

Introduced

Summary

Requires federal financial rulemakers to assess and justify how rules affect small businesses. This bill would force the Consumer Financial Protection Bureau and other covered agencies to run explicit small‑entity impact checks, explain why they rejected smaller alternatives, and describe steps taken to avoid raising small businesses' credit costs when making rules under the Dodd‑Frank framework.

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  • Small businesses: Agencies would have to analyze how proposed rules affect small entities and include a description of steps taken to minimize any additional cost of credit for those businesses. This gives small firms clearer written consideration in rulemaking.
  • Covered agencies: The bill would amend multiple rulemaking sections to require agencies to follow section 609 of title 5 for small‑entity impact assessments and to provide factual, policy, and legal justification if they do not adopt small‑entity alternatives. Agencies face a new written accountability requirement when they decline small‑entity options.
  • Rulemaking transparency: Final regulatory flexibility analyses must now spell out the alternatives considered and why small entities’ size and resources do or do not matter for the rule. This creates a clearer record for regulators and outside reviewers.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Stronger small-business checks on CFPB rules

This bill would require Dodd-Frank rulemaking to review how a proposal affects small businesses under section 609. Covered agencies would have to justify, with facts, policy, and law, any choice not to use small-business alternatives. For final rules, they would also explain steps to limit any added cost of credit for small firms. These requirements would start upon enactment.

Sponsors & CoSponsors

Sponsor

Fitzgerald, Scott [R-WI-5]

WI • R

Cosponsors

  • Rep. Fallon, Pat [R-TX-4]

    TX • R

    Sponsored 2/26/2025

  • Rep. Meuser, Daniel [R-PA-9]

    PA • R

    Sponsored 3/26/2025

  • Rep. Barr, Andy [R-KY-6]

    KY • R

    Sponsored 3/31/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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