Summary

Changes the Consumer Financial Protection Bureau's purpose to add an explicit economic objective prioritizing private‑sector participation and limiting government interference or subsidies. Creates a new Office of Economic Analysis inside the Bureau that must review and publish economic impact analyses of all proposed and existing rules, guidance, orders, and regulations, and requires the Bureau Director to consider those reviews and document any disagreement. The bill requires each proposed rulemaking to identify the problem it seeks to solve, set measurable metrics (including effects on consumer access and cost), and triggers periodic reassessments (1, 2, 5, and 10 years) of whether rules achieved their goals. These changes increase analytic and procedural requirements for CFPB rulemaking and shift the Bureau’s stated priorities toward supporting private‑sector market participation.

• Rewrites the CFPB’s purpose to add an explicit goal of strengthening private‑sector participation and minimizing government interference or subsidies.
• Creates an Office of Economic Analysis inside the CFPB to review and publish economic impact analyses of every proposed and existing Bureau action.
• Requires the Office to reassess each rule, guidance, and order at 1, 2, 5, and 10 years to judge whether the action solved the intended problem.
• Directs the CFPB Director to consider the Office’s review before issuing any action and to provide written explanations when disagreeing with the Office.
• Mandates that each proposed rule identify the problem it addresses and list measurable metrics — including effects on consumer access and cost — for evaluating success.
• Increases procedural and analytic requirements that are likely to lengthen rulemaking and add administrative cost.
• Elevates economic impacts (price, choice, access to credit) in regulatory decision‑making, potentially shifting emphasis away from other consumer protection considerations.
• Requires publication of reviews and reassessments in the Federal Register, increasing public transparency and creating records for oversight or litigation.