HR1606-119

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

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— in clause (i), by striking and at the end; in clause (ii), by striking the semicolon at the end and inserting ; and; and by adding at the end the following: the impact of proposed rules on small entities, in accordance with section 609 of title 5, United States Code; (iii)the impact of proposed rules on small entities, in accordance with section 609 of title 5, United States Code;.

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 by adding at the end the following: 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. (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. .

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. (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..