Enhances rule-making requirements for the Bureau of Consumer Financial Protection.

The bill amends the Consumer Financial Protection Act of 2010 to enhance rule-making requirements for the Bureau of Consumer Financial Protection. It mandates that notices of proposed rulemaking include a statement of the need for the regulation, an examination of why the Bureau must undertake the regulation, and an analysis of the costs and benefits of the proposed regulation. The bill also requires a discussion of underlying assumptions, a description of any studies or data used, and an assessment of how the burden imposed by the regulation will be distributed.

Enhances rule-making requirements for the Bureau of Consumer Financial Protection.

The bill amends the Consumer Financial Protection Act of 2010 to enhance rule-making requirements for the Bureau of Consumer Financial Protection. It mandates that notices of proposed rulemaking include a statement of the need for the regulation, an examination of why the Bureau must undertake the regulation, and an analysis of the costs and benefits of the proposed regulation. The bill also requires a discussion of underlying assumptions, a description of any studies or data used, and an assessment of how the burden imposed by the regulation will be distributed.