Making the CFPB Accountable to Small Businesses Act of 2023

This bill requires the Consumer Financial Protection Bureau (CFPB) to explicitly consider the impact of proposed rules on small businesses during rulemaking. It amends the Dodd-Frank Act to mandate that the CFPB evaluate small business effects and adds a requirement for the agency to provide detailed justifications if it decides not to consider small business needs in a rule. These changes apply specifically to the CFPB's regulatory process and directly affect small businesses by requiring the agency to address their unique challenges in rule development. The bill focuses on procedural changes to existing regulatory flexibility analysis requirements under Title 5 of the U.S. Code.