I 
114TH CONGRESS 
2D SESSION 
H. R. 5211 
To amend the Consumer Financial Protection Act of 2010 to update the 
purpose of the Bureau of Consumer Financial Protection, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 12, 2016 
Mr. EMMER of Minnesota (for himself, Mr. PITTENGER, Mr. BARR, Mr. 
NEUGEBAUER, and Mr. STIVERS) introduced the following bill; which was 
referred to the Committee on Financial Services 
A BILL 
To amend the Consumer Financial Protection Act of 2010 
to update the purpose of the Bureau of Consumer Finan-
cial 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 ‘‘CFPB Dual Mandate 
and Economic Analysis Act’’. 
SEC. 2. PURPOSE. 
Section 1021(a) of the Consumer Financial Protec-
tion Act of 2010 (12 U.S.C. 5511(a)) is amended— 
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(1) by striking ‘‘fair, transparent, and competi-
tive’’ and inserting: ‘‘fair and transparent’’; and 
(2) by adding at the end the following: ‘‘In ad-
dition, the Bureau shall seek to implement and, 
where applicable, enforce Federal consumer financial 
law consistently for the purpose of strengthening 
private sector participation in markets, without Gov-
ernment interference or subsidies, to increase com-
petition and enhance consumer choice.’’. 
SEC. 3. OFFICE OF ECONOMIC ANALYSIS. 
(a) IN GENERAL.—Section 1013 of the Consumer Fi-
nancial Protection Act of 2010 (12 U.S.C. 5493) is 
amended by adding at the end the following: 
‘‘(h) OFFICE OF ECONOMIC ANALYSIS.— 
‘‘(1) ESTABLISHMENT.—The Director shall es-
tablish an Office of Economic Analysis. 
‘‘(2) REVIEW AND ASSESSMENT OF PROPOSED 
GUIDANCE, ORDERS, RULES
AND
REGULATIONS.— 
The Office of Economic Analysis shall— 
‘‘(A) review all proposed guidance, orders, 
rules and regulations of the Bureau; 
‘‘(B) assess the impact of such guidance, 
orders, rules and regulations on consumer 
choice, price, and access to credit products; and 
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‘‘(C) publish a report on such reviews and 
assessments in the Federal Register. 
‘‘(3) MEASURING
EXISTING
RULES, REGULA-
TIONS, GUIDANCE, AND
ORDERS.—The Office of 
Economic Analysis shall— 
‘‘(A) review each rule, regulation, guid-
ance, and order issued by the Bureau after 1, 
2, 5, and 10 years; 
‘‘(B) measure the rule, regulation, guid-
ance, or order’s success in solving the problem 
that the rule, regulation, guidance, or order was 
intended to solve when issued; and 
‘‘(C) publish a report on such review and 
measurement in the Federal Register.’’. 
(b) CONSIDERATION OF REVIEW AND ASSESSMENT; 
RULEMAKING REQUIREMENTS.—Section 1022(b) of the 
Consumer Financial Protection Act of 2010 (12 U.S.C. 
5512(b)) is amended by adding at the end the following: 
‘‘(5) CONSIDERATION OF REVIEW AND ASSESS-
MENT BY THE OFFICE OF ECONOMIC ANALYSIS.— 
‘‘(A) IN
GENERAL.—Before issuing any 
guidance, order, rule, or regulation, the Direc-
tor shall consider the review and assessment of 
such guidance, order, rule, or regulation carried 
out by the Office of Economic Analysis. 
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‘‘(B) NOTICE OF DISAGREEMENT.—If the 
Director disagrees with any part of a review 
and assessment described under subparagraph 
(A) with respect to any guidance, order, rule, or 
regulation, the Director shall accompany any 
such guidance, order, rule, or regulation with a 
statement explaining why the Director so dis-
agrees. 
‘‘(6) IDENTIFICATION
OF
PROBLEMS
AND 
METRICS FOR JUDGING SUCCESS.— 
‘‘(A) IN GENERAL.—The Director shall, in 
each proposed rulemaking of the Bureau— 
‘‘(i) identify the problem that the par-
ticular rule or regulations is seeking to 
solve; and 
‘‘(ii) specify the metrics by which the 
Bureau will measure the success of the 
rule or regulation in solving such problem. 
‘‘(B) REQUIRED
METRICS.—The metrics 
specified under subparagraph (A)(ii) shall in-
clude a measurement of changes to consumer 
access to, and cost of, consumer financial prod-
ucts and services.’’. 
Æ 
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