Bill
HR 2183
Overview: HR 2183, the CFPB Dual Mandate and Economic Analysis Act, is a bill introduced in the U.S. House of Representatives. It aims to modify the mandate and operations of the C
Overview: HR 2183, the CFPB Dual Mandate and Economic Analysis Act, is a bill introduced in the U.S. House of Representatives. It aims to modify the mandate and operations of the Consumer Financial Protection Bureau (CFPB).
Purpose and Intent: The bill's main goal is to require the CFPB to consider the potential economic impacts of its rules and regulations, in addition to its current consumer protection mandate. Proponents argue this will lead to more balanced and economically-informed policymaking by the agency.
Key Provisions:
- Establishes a dual mandate for the CFPB to consider both consumer protection and economic impacts
- Requires the CFPB to conduct comprehensive cost-benefit analyses for proposed rules
- Mandates the CFPB to consider alternative approaches that may be less burdensome
Affected Parties and Impacts: The CFPB, as the primary regulator of consumer financial products and services, would be the most directly affected by this legislation. Financial institutions, businesses, and consumers could also be impacted by any changes to the CFPB's rulemaking process and priorities.
Procedural and Timeline Considerations: HR 2183 has been recently introduced in the House and is currently in the early stages of the legislative process. It will need to pass the House, Senate, and be signed by the President to become law.
Compiled from official sources — confirm details with the bill’s official record.
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