Lawmakers: CFPB should use cost analysis in rule-making

04/5/2012 | Bank Credit News

Two House Financial Services subcommittees members want the Consumer Financial Protection Bureau to commit to conducting cost-benefit analyses before issuing rules. Rep. Shelley Moore Capito, R-W.Va., chairwoman of the Subcommittee on Financial Institutions and Consumer Credit, and Rep. Randy Neugebauer, R-Texas, chairman of the Subcommittee on Oversight and Investigations, sent a letter to CFPB Director Richard Cordray asking for his commitment to such studies and asking him to clarify the agency's regulatory role.

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