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HR2489FEDERALin_committee

High Impact

CFPB Dual Mandate and Economic Analysis Act (H.R. 2489)

Original title: CFPB Dual Mandate and Economic Analysis Act

April 18, 2025

consumer protection financial regulation economic policy CFPB government oversight

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Where This Stands

Introduced

Committee

Floor Vote

Passed

Signed

Currently in_committee. The next step in the legislative lifecycle is Floor Vote.

Last action

Referred to the House Committee on Financial Services.Apr 6, 2023

Lead sponsor

Tom Emmer

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

If passed, this bill would change the legal mandate of the CFPB to prioritize private sector participation and require the agency to conduct and publish economic impact assessments for all new and existing financial regulations.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Consumer Financial Protection Bureau

The agency would be required to establish a new office, conduct mandatory economic reviews, and alter its stated regulatory purpose.

Financial institutions

These entities would be subject to a new regulatory framework that emphasizes economic impact assessments and market-based competition.

What changed

Current stage: in_committee.

What's next

Floor Vote.

Summary

This bill proposes changes to the Consumer Financial Protection Bureau (CFPB) by narrowing its stated purpose and requiring the creation of a new Office of Economic Analysis. The new office would be tasked with reviewing all CFPB rules and regulations to assess their impact on consumer choice, credit access, and pricing.

Key Facts

Removes 'competitive' from the CFPB's stated purpose of ensuring markets are 'fair, transparent, and competitive'.
Adds a requirement for the CFPB to strengthen private sector participation without government interference or subsidies.
Mandates the establishment of an 'Office of Economic Analysis' within the CFPB.
Requires the new office to review all proposed guidance, orders, and rules for their impact on consumer choice, price, and credit access.
Requires the new office to publish reports on these reviews in the Federal Register.
Mandates retrospective reviews of all CFPB rules and orders at 1, 2, 5, and 10-year intervals.
Requires the CFPB Director to consider the Office of Economic Analysis's assessments before issuing any new rules or guidance.
Requires the Director to issue a formal statement explaining any disagreement with the Office of Economic Analysis's findings.
Requires the CFPB to identify the specific problem a rule intends to solve and define success metrics for every proposed rulemaking.
Mandates that success metrics must include measurements of changes to consumer access and the cost of financial products.

Why It Matters

Frequently Asked Questions

What would the new Office of Economic Analysis do?

It would review all proposed and existing CFPB rules, orders, and guidance to measure their impact on consumer choice, credit access, and pricing, and publish these findings in the .

Does this bill change how the CFPB creates new rules?

Yes, it requires the Director to consider economic assessments before issuing rules and to explicitly state the problem being solved and the metrics used to measure success.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

Narrowing of Regulatory Purpose

The bill explicitly removes 'competitive' from the CFPB's mandate and adds a requirement to prioritize private sector participation without government subsidies.

Consumer Financial Protection Bureau

Connected Entities

personTom Emmer“Lead sponsor of the bill in the House of Representatives.”Map →

organizationConsumer Financial Protection Bureau“The federal agency targeted by the proposed regulatory changes.”Map →

organizationCommittee on Financial Services“The House committee to which the bill was referred.”Map →

Analysis Score

0–100

Significance75
How much this matters to a regular citizen
Controversy65
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz25
Current news / social attention level

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