Proposal:CFPB Dual Mandate and Economic Analysis Act

This proposal is archived and closed to further debate. It was introduced in the 117th Congress, which has concluded, and the bill was not enacted into law.

Bill	HR 527
Type of Legislation	House Bill
Congress	117
Status	Archived — 117th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

CFPB Dual Mandate and Economic Analysis Act

This bill establishes the Office of Economic Analysis in the Consumer Financial Protection Bureau (CFPB) to review all proposed and existing guidance, orders, rules, and regulations. The CFPB must also identify in each proposed rulemaking the problem to be solved by the rule or regulation and the metrics the CFPB will use to measure the success of the rule or regulation. These metrics must include a measurement of changes regarding consumer access to, and the cost of, consumer financial products and services.

Additionally, the purpose of the CFPB is revised to include strengthening private sector participation in markets, without government interference or subsidies, to increase competition and enhance consumer choice.

Bill Title

CFPB Dual Mandate and Economic Analysis Act

Linked Goals

• Goal:Promote General Welfare

Steps

• 2021-01-28: Referred to the House Committee on Financial Services.
• 2021-01-28: Introduced in House
• 2021-01-28: Introduced in House

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.