Transparency in CFPB Cost-Benefit Analysis Act

This bill requires the Consumer Financial Protection Bureau (CFPB) to publish detailed cost-benefit analyses with every proposed rule. It mandates that notices include specific information like why federal action is needed (instead of state or market solutions), assessments of costs for small businesses and other entities, and evaluations of whether the rule overlaps with existing regulations. The CFPB must also justify rules if benefits don’t outweigh costs or if burdens fall disproportionately on small businesses or consumers. This directly affects the CFPB’s rulemaking process and the businesses, consumers, and local governments subject to its regulations.