H.R. 2446, Responsible Consumer Financial Protection Regulations Act of 2013

Cost Estimate
February 6, 2014

As ordered reported by the House Committee on Financial Services on November 21, 2013

H.R. 2446 would replace the Director of the Consumer Financial Protection Bureau (CFPB) with a commission made up of a chairman and four additional members appointed by the President and confirmed by the Senate. The commission would be responsible for developing regulations to carry out the laws that fall within the jurisdiction of the CFPB.

Based on information from the CFPB, CBO estimates that enacting H.R. 2446 would increase direct spending by $74 million over the 2014-2024 period. Because the bill would affect direct spending, pay-as-you-go procedures apply. CBO estimates that enacting the bill would not affect revenues and that implementing H.R. 2446 would not affect spending subject to appropriation.

H.R. 2446 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.