CFPB Dual Mandate and Economic Analysis Act

This bill would create a new Office of Economic Analysis inside the Consumer Financial Protection Bureau. This office would review all proposed rules and guidance to see how they affect consumer choice, prices, and access to credit products. The Consumer Financial Protection Bureau would have to consider these reviews when making new rules and explain what problem each rule is trying to solve and how they will measure if the rule works. The bill also changes the Consumer Financial Protection Bureau's purpose to include promoting private sector participation in markets without government interference to increase competition and give consumers more choices.

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