H.R. 10184, Financial Industry Deregulation and CFPB Constraint. Quorum's AI analysis reads it as a net cost — and names who bears it.
H.R. 10184 · Net cost
What it does
This bill comprehensively restructures the Consumer Financial Protection Bureau (CFPB) by moving it into the regular congressional appropriations process (ending its independent funding), requiring detailed cost-benefit analyses for all rules, establishing an independent Inspector General, and narrowing the CFPB's enforcement authority—particularly its ability to regulate 'abusive' practices, which is now tightly defined and subject to a 180-day cure period. It also creates safe harbors for small-dollar lending products and limits the CFPB's supervisory reach over certain financial institutions and state-regulated insurance entities.
The analysis names small-dollar lenders and payday loan providers — and 3 more groups — among the beneficiaries.
The cost
The 180-day cure period for self-identified violations effectively grants a statute-of-limitations extension to violators who self-report, incentivizing disclosure only after harm is widespread and difficult to remedy.
The analysis put a high warning level on this bill. Transparency scores 65%, and the analysis found no provisions unrelated to the bill's subject.
Who is behind it
Filed by Andy Barr. Cosponsored by Andrew Garbarino, Andrew Ogles, Ann Wagner and Barry Loudermilk.
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