I 
119TH CONGRESS 
1ST SESSION H. R. 2331 
To enhance rulemaking requirements for the Bureau of Consumer Financial 
Protection, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 25, 2025 
Mr. LOUDERMILK (for himself and Mr. BARR) 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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‘‘(vii) an analysis of the costs and 
benefits, both quantitative and qualitative, 
of any alternative identified pursuant to 
clause (v); 
‘‘(viii) if the Bureau determines the 
proposed regulation would increase costs 
for small businesses, then the Bureau shall 
consult the Office of Advocacy within the 
Small Business Administration to deter-
mine ways to minimize the effect of direct 
and indirect costs imposed on small busi-
nesses by the proposed regulation; 
‘‘(ix) if quantified net benefits of the 
proposed action do not outweigh the quan-
tified net benefits of the alternatives, a jus-
tification of the regulation; 
‘‘(x) if quantified benefits identified 
pursuant to clause (iv) do not outweigh the 
quantified costs of the regulation, a jus-
tification of the regulation; 
‘‘(xi) an assessment of how the bur-
den imposed by the regulation will be dis-
tributed; including whether consumers, or 
small businesses will be disproportionately 
burdened; and 
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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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