Transparency in CFPB Cost-Benefit Analysis Act

Clearer cost-benefit rules for consumer bureau

If enacted, the Consumer Financial Protection Bureau would have to publish each proposed rule in full. Each proposal would explain the need, why the Bureau must act instead of markets or state, local, or tribal governments, and whether other federal rules already cover it. The Bureau would list reasonable alternatives and estimate costs and benefits—numbers and plain words—including small‑business compliance costs, effects on the economy and competition, and government costs. If small‑business costs would rise, the Bureau would consult the Small Business Administration’s Office of Advocacy and say how it would reduce any extra burden. It would show who bears the burden, justify rules when costs exceed benefits or when an alternative scores better, share data and assumptions (noting peer review), and give probability ranges for outcomes when feasible.