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House Bill 1749
118th Congress(2023-2024)
Making the CFPB Accountable to Small Businesses Act of 2023
Introduced
Introduced
Introduced in House on Mar 23, 2023
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Text
Introduced in House 
Mar 23, 2023
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Introduced in House(Mar 23, 2023)
Mar 23, 2023
About Linkage
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Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
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H. R. 1749 (Introduced-in-House)


118th CONGRESS
1st Session
H. R. 1749


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

IN THE HOUSE OF REPRESENTATIVES

March 23, 2023

Mr. Fitzgerald (for himself, Mr. Norman, Mr. Fallon, and Mrs. Miller of Illinois) introduced the following bill; which was referred to the Committee on the Judiciary, and in addition to the Committees on Small Business, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

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

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Making the CFPB Accountable to Small Businesses Act of 2023”.

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 (12 U.S.C. 5512(b)(2)(A)) is amended—

(1) in clause (i), by striking “and” at the end;

(2) in clause (ii), by striking the semicolon at the end and inserting “; and”; and

(3) by adding at the end the following:

    “(iii) the impact of proposed rules on small entities, in accordance with section 609 of title 5, United States Code;”.

SEC. 3. Initial regulatory flexibility analysis.

Section 603(d)(1) of title 5, United States Code, is amended—

(1) in subparagraph (B), by striking “and” at the end;

(2) in subparagraph (C), by striking the period and inserting “; and”; and

(3) by adding at the end the following:

    “(D) 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.”.

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:

“(7) 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.”.