I 
117TH CONGRESS 
2D SESSION 
H. R. 7412 
To enhance rulemaking requirements for the Bureau of Consumer Financial 
Protection, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 6, 2022 
Mr. MOONEY (for himself, Mr. WILLIAMS of Texas, Mr. KUSTOFF, Mr. HILL, 
Mr. DAVIDSON, Mr. BUDD, Mr. ROSE, Mr. HUIZENGA, Mr. POSEY, Mr. 
TIMMONS, Mr. EMMER, Mr. HOLLINGSWORTH, Mrs. WAGNER, and Mr. 
LUETKEMEYER) introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To enhance rulemaking requirements for the Bureau of 
Consumer Financial Protection, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Transparency in 
CFPB Cost-Benefit Analysis Act’’. 
SEC. 2. TRANSPARENCY IN COST-BENEFIT ANALYSIS. 
Section 1022(b) of the Consumer Financial Protec-
tion Act of 2010 (12 U.S.C. 5512(b)) is amended by add-
ing at the end the following: 
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‘‘(5) 
ADDITIONAL
RULEMAKING
REQUIRE-
MENTS.— 
‘‘(A) IN GENERAL.—Each notice of pro-
posed rulemaking issued by the Bureau shall be 
published in its entirety in the Federal Register 
and shall include— 
‘‘(i) a statement of the need for the 
proposed regulation; 
‘‘(ii) an examination of why the Bu-
reau must undertake the proposed regula-
tion and why the private market, State, 
local, or tribal authorities cannot ade-
quately address the problem; 
‘‘(iii) an examination of whether the 
proposed regulation is duplicative, incon-
sistent, or incompatible with other Federal 
regulations and orders; 
‘‘(iv) if the proposed regulation is 
found to be duplicative, inconsistent, or in-
compatible with other Federal regulations 
and orders, a discussion of— 
‘‘(I) why the proposed regulation 
is justified; 
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‘‘(II) how the proposed regulation 
can coexist with the existing regula-
tions; and 
‘‘(III) how the Bureau plans to 
reduce the regulatory burden associ-
ated with the duplicative, inconsistent, 
or incompatible proposed regulation; 
‘‘(v) a quantitative and qualitative as-
sessment of all anticipated direct and indi-
rect costs and benefits of the proposed reg-
ulation, including— 
‘‘(I) compliance costs for all reg-
ulated entities, including small busi-
nesses; 
‘‘(II) effects on economic activity, 
efficiency, competition and capital for-
mation; 
‘‘(III) regulatory and administra-
tive costs of implementation; and 
‘‘(IV) costs imposed on State, 
local and tribal entities; 
‘‘(vi) an identification of reasonable 
alternatives to the regulation, including 
modification of an existing regulation; 
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‘‘(xii) when feasible, and using appro-
priate statistical techniques, a probability 
distribution of the relevant outcomes of the 
proposed regulation. 
‘‘(B) ASSUMPTIONS AND STUDIES USED.— 
With respect to the information required to be 
included under subparagraph (A), the Bureau 
will include— 
‘‘(i) a discussion of underlying as-
sumptions used as a basis for such infor-
mation; and 
‘‘(ii) a description of any studies or 
data used in preparing such information, 
and whether such studies were peer-re-
viewed.’’. 
Æ 
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