H.R. 1606

119th CONGRESS 1st Session

To impose additional requirements for covered agencies in regulatory flexibility analysis.

IN THE HOUSE OF REPRESENTATIVES · February 26, 2025 · Sponsor: Mr. Fitzgerald

Table of contents

• H.R. 1606
  • SEC. 1. Short title
  • SEC. 2. Rulemaking under Dodd-Frank Wall Street Reform and Consumer Protection Act
  • SEC. 3. Initial regulatory flexibility analysis
  • SEC. 4. Final regulatory flexibility analysis

SEC. 1. Short title

• This Act may be cited as the Making the CFPB Accountable to Small Businesses Act of 2025.

SEC. 2. Rulemaking under Dodd-Frank Wall Street Reform and Consumer Protection Act

• Section 1022(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act () is amended— 12 U.S.C. 5512(b)(2)(A)
  • in clause (i), by striking and at the end;
  • in clause (ii), by striking the semicolon at the end and inserting ; and; and
    • (iii) the impact of proposed rules on small entities, in accordance with section 609 of title 5, United States Code;
  • by adding at the end the following:

SEC. 3. Initial regulatory flexibility analysis

• Section 603(d)(1) of title 5, United States Code, is amended—
  • in subparagraph (B), by striking and at the end;
  • in subparagraph (C), by striking the period and inserting ; and; and
    • where the covered agency does not adopt any alternatives described in paragraphs (1) through (4) of subsection (c), a detailed justification of the covered agency’s determination that the relative size and resources of small entities should have no bearing on the rule, supported by factual, policy and legal reasons.
  • by adding at the end the following:

SEC. 4. Final regulatory flexibility analysis

• Section 604(a) of title 5, United States Code, is amended in the second paragraph (6) to read as follows:
  • for a covered agency, as defined in section 609(d)(2), a description of the steps the agency has taken to minimize any additional cost of credit for small entities and, where no significant alternatives for small entities was adopted, a detailed justification of the covered agency’s determination that the relative size and resources of small entities should have no bearing on the rule, supported by factual, policy and legal reasons.