Transparency in CFPB Cost-Benefit Analysis Act
Requires the CFPB to publish detailed cost, benefit, and alternatives analyses with each proposed regulation.
In the Senate Banking, Housing, and Urban Affairs Committee since Sept. 30, 2026, 8 days after it was introduced. Most bills never leave committee.
- INTRODUCEDINTROSEP 30, 2026
- COMMITTEECOMM.IN COMMITTEE
- SENATESENATE—
- HOUSEHOUSE—
- LAWLAW—
What the bill would do, and why it matters
Federal rules can affect businesses, consumers, and governments in different ways. This measure would require the CFPB to explain the need, costs, benefits, alternatives, and potential burdens of each proposed regulation. It would also require the agency to disclose the assumptions and studies behind its analysis and consult on proposals it finds would increase small-business costs.
- INTRODUCED ONLY This bill has been introduced and possibly referred to a committee, but it has not passed any vote. Most introduced bills never become law — they die in committee without a hearing.
- DATA NOTE No Congressional Research Service summary was available.
- Require fuller CFPB rule notices
Each notice of proposed CFPB regulation would have to be published in full in the Federal Register. It would explain the need for the proposal and why the CFPB, rather than private markets or state, local, or tribal authorities, should address the problem.
- Assess costs, benefits, and alternatives
The CFPB would have to assess anticipated direct and indirect costs and benefits, including effects on regulated entities, small businesses, economic activity, competition, capital formation, government entities, and implementation. It would also identify reasonable alternatives and assess their costs and benefits, with justifications required in specified cases when quantified benefits do not outweigh costs or the alternatives’ quantified net benefits.
- Explain overlap with other rules
The CFPB would have to examine whether a proposed regulation duplicates or conflicts with other federal regulations or orders. If it does, the CFPB would explain why the proposal is justified, how it could coexist with existing rules, and how the CFPB plans to reduce the added regulatory burden.
- Disclose assumptions and distribution
The notice would have to describe the assumptions, studies, and data behind its analysis, including whether studies were peer-reviewed. It would also assess how the regulation’s burdens would be distributed, including whether consumers or small businesses would be disproportionately burdened, and provide a probability distribution of relevant outcomes when feasible.
- Consult on small-business costs
If the CFPB finds that a proposal would increase costs for small businesses, it would have to consult the Small Business Administration’s Office of Advocacy about ways to reduce the proposal’s direct and indirect costs for them.
The measure focuses on what the CFPB must explain before proposing a regulation, including the proposal’s costs and benefits, alternatives, and potential overlap with other federal rules. That information could make the expected effects and tradeoffs of a proposed rule more visible to the public.
Written from the bill text.
The path it took, step by step
- IntroducedSEP 30, 2026SENATESEP 30, 2026By Sen. Kennedy with 1 original cosponsorReferred to Banking, Housing, and Urban Affairs
- SAME DAYNOWSenate committeeSEP 30, 2026BANKING, HOUSING, & URBAN AFFAIRS NOWSEP 30, 2026In committee for 8 daysNo hearing yet
- 8 DAYS SO FARPassed the Senate—SENATE FLOOR—Not scheduled
- House committee—HOUSE—
- Passed the House—HOUSE FLOOR—Not scheduled
- Resolve differencesONLY IF NEEDEDBOTH CHAMBERSONLY IF NEEDEDSkipped if the other chamber passes the same text
- Signed into law—PRESIDENT—10 days to sign or veto
- SEP 302026SEP 30, 2026REFERREDRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- SEP 302026SEP 30, 2026INTRODUCEDSENATEIntroduced in Senate
At day 8, this bill is already older than 3% of the laws passed this Congress were when they were signed.
Where your members stand on it
Support from one state
Plus the sponsor, a Republican. Every cosponsor is from one party.
Plus the sponsor, a Republican. Every cosponsor is from one party.
Sen. Kennedy’s record: sponsored 85 bills this Congress. 10 passed the Senate; 4 became law.
- Cynthia M. LummisR-WYORIGINAL
What readers think
Discussion
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