U.S. Congress legislation · 119th Congress
SB5628: Transparency in CFPB Cost-Benefit Analysis Act
Status: In committee, September 30, 2026
A bill to amend the Consumer Financial Protection Act of 2010 to enhance rule-making requirements for the Bureau of Consumer Financial Protection, and for other purposes.
What the bill says
To amend the Consumer Financial Protection Act of 2010 to enhance rulemaking requirements for the Bureau of Consumer Financial Protection, and for other purposes.
From the introduced text, September 30, 2026:
A BILL To amend the Consumer Financial Protection Act of 2010 to enhance rulemaking requirements for the Bureau of Consumer Financial Protection, and for other purposes. SECTION 1. Short title This Act may be cited as the Transparency in CFPB Cost-Benefit Analysis Act . SECTION 2. Transparency in cost-benefit analysis Section 1022(b) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5512(b) ) is amended by adding at the end the (ii) an examination of why the Bureau must undertake the proposed regulation and why the private market, State, local, or tribal authorities cannot adequately address the problem; (iii) an examination of whether the proposed regulation is duplicative, inconsistent, or incompatible with other Federal regulations and orders; (iv) if the proposed regulation is found to be duplicative, inconsistent, or incompatible with other Federal regulations and orders, a discussion of-- (I) why the proposed regulation is justified; (II) how the proposed regulation can coexist with the existing regulations; and (III) how the Bureau plans to reduce the regulatory burden associated with the duplicative, inconsistent, or incompatible proposed regulation; (v) a quantitative and qualitative assessment of all anticipated direct and indirect costs and benefits of the proposed regulation, including-- (I) compliance costs for all regulated entities, including small businesses; (II) effects on economic activity, efficiency, competition and capital formation; (III) …
Sponsors
- Kennedy, John (R) · primary sponsor
- Lummis, Cynthia (R)
Latest actions
- : Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- : Introduced in Senate
Subjects: Finance and Financial Sector
Common questions
- What is SB5628?
- SB5628 is a bill in Congress (119th Congress): Transparency in CFPB Cost-Benefit Analysis Act.
- What does SB5628 do?
- In its own words: To amend the Consumer Financial Protection Act of 2010 to enhance rulemaking requirements for the Bureau of Consumer Financial Protection, and for other purposes.
- What is the status of SB5628?
- In committee as of September 30, 2026. Latest action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (September 30, 2026).
- Who sponsored SB5628?
- Kennedy, John (R), with 1 co-sponsor.
- Where is the official record for SB5628?
- On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5628
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.