ICBA backs bill to enhance regulatory flexibility

March 23, 2023

ICBA expressed support for legislation to support more flexible agency rules that take account of the size and compliance resources of small businesses.

Details: Introduced by Rep. Scott Fitzgerald (R-Wis.), the Making the CFPB Accountable to Small Business Act would require federal regulators to:

  • Describe how requirements for smaller businesses minimize any additional cost of credit before finalizing any rule.

  • Provide a detailed justification if they determine that no alternatives to the final rule exist.