,,ii  #aag? ,,congress  #b;d ,session   
,s4 #debb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ac1 #bjbb,mr4   
,k5n$y 7= himself1 ,ms4 ,lummis1 ,mr4   
,scott ( ,s\? ,c>ol9a1 & ,mr4 ,hag]ty7  
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to enhance rulemak+ requirem5ts
 = ! ,bureau ( ,consum] ,f9ancial       
,protection1 & = o!r purposes4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,transp>5cy 9 ,,cfpb ,co/-,b5efit       
,analysis ,act4  #b4 ,transp>5cy 9      
co/-b5efit analysis ,section #ajbb7;b7 (
 ! ,consum] ,f9ancial ,protection ,act (
 #bjaj 7#ab ,u4,s4,c4 #eeab7;b77 is     
am5d$ by add+ at ! end ! foll[+3  7#e7  
,additional rulemak+ requirem5ts  7,a7  
,9 g5]al ,ea* notice ( propos$ rulemak+ 
issu$ by ! ,bureau %all be publi%$ 9 its
 entirety 9 ! ,f$]al ,regi/] & %all     
include-- 7i7 a /atem5t ( ! ne$ = !     
propos$ regulation2  7ii7 an exam9ation 
( :y ! ,bureau mu/ und]take ! propos$   

regulation & :y ! private m>ket1 ,/ate1 
local1 or tribal au?orities _c          
adequately address ! problem2  7iii7 an 
exam9ation ( :e!r ! propos$ regulation  
is duplicative1 inconsi/5t1 or          
incompatible ) o!r ,f$]al regulations & 
ord]s2  7iv7 if ! propos$ regulation is 
f\nd to be duplicative1 inconsi/5t1 or  
incompatible ) o!r ,f$]al regulations & 
ord]s1 a discussion (-- 7,i7 :y !       
propos$ regulation is ju/ifi$2  7,,ii7  
h[ ! propos$ regulation c coexi/ ) !    
exi/+ regulations2 &  7,,iii7 h[ !      
,bureau plans to r$uce ! regulatory     
burd5 associat$ ) ! duplicative1        
inconsi/5t1 or incompatible propos$     
regulation2  7v7 a quantitative &       
qualitative assessm5t ( all anticipat$  
direct & indirect co/s & b5efits ( !    
propos$ regulation1 includ+-- 7,i7      
compliance co/s = all regulat$ entities1
 includ+ small bus9esses2  7,,ii7       
effects on economic activity1 effici5cy1
 competition & capital =mation2  7,,iii7
 regulatory & adm9i/rative co/s (       

implem5tation2 &  7,,iv7 co/s impos$ on 
,/ate1 local & tribal entities2  7vi7 an
 id5tification ( reasonable alt]natives 
to ! regulation1 includ+ modification ( 
an exi/+ regulation2  7vii7 an analysis 
( ! co/s & b5efits1 bo? quantitative &  
qualitative1 ( any alt]native id5tifi$  
pursuant to clause 7v72  7viii7 if !    
,bureau det]m9es ! propos$ regulation   
w\ld increase co/s = small bus9esses1 !n
 ! ,bureau %all consult ! ,(fice (      
,advocacy )9 ! ,small ,bus9ess          
,adm9i/ration to det]m9e ways to m9imize
 ! effect ( direct & indirect co/s      
impos$ on small bus9esses by ! propos$  
regulation2  7ix7 if quantifi$ net      
b5efits ( ! propos$ action d n outweigh 
! quantifi$ net b5efits ( ! alt]natives1
 a ju/ification ( ! regulation2  7x7 if 
quantifi$ b5efits id5tifi$ pursuant to  
clause 7iv7 d n outweigh ! quantifi$    
co/s ( ! regulation1 a ju/ification ( ! 
regulation2  7xi7 an assessm5t ( h[ !   
burd5 impos$ by ! regulation w be       
di/ribut$2 includ+ :e!r consum]s1 or    

small bus9esses w be disproportionately 
burd5$2 &  7xii7 :5 feasible1 & us+     
appropriate /ati/ical te*niques1 a      
probability di/ribution ( ! relevant    
outcomes ( ! propos$ regulation4  7,b7  
,assumptions & /udies us$ ,) respect to 
! in=mation requir$ to be includ$ "u    
subp>agraph 7,a71 ! ,bureau w include-- 
7i7 a discussion ( und]ly+ assumptions  
us$ z a basis = su* in=mation2 &  7ii7 a
 description ( any /udies or data us$ 9 
prep>+ su* in=mation1 & :e!r su* /udies 
7 pe]-review$4  4