US HB2331

Requires the Consumer Financial Protection Bureau (CFPB) to include comprehensive cost-benefit analyses in all proposed rulemakings, covering compliance costs for regulated entities including small businesses, effects on economic activity and competition, and costs to state, local, and tribal governments

Mandates that CFPB explain why federal regulation is necessary when private markets or state/local/tribal authorities cannot adequately address the problem, and examine whether proposed rules duplicate or conflict with existing federal regulations

Requires identification and cost-benefit analysis of reasonable regulatory alternatives, with justification required if the proposed regulation's quantified benefits do not outweigh its costs or if alternatives would provide greater net benefits

Obligates CFPB to consult with the Small Business Administration's Office of Advocacy when proposed regulations would increase costs for small businesses, and to assess whether consumers or small businesses will be disproportionately burdened

Requires disclosure of underlying assumptions, data sources, and whether supporting studies were peer-reviewed, along with probability distributions of regulatory outcomes when feasible