Sec. 6. Analysis of regulations
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Section 1022 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5512 ) is amended by adding at the end the following new subsection: Each time the Commission proposes a new rule or regulation, the Commission shall— carry out an initial regulatory flexibility analysis for such proposed rule or regulation, which shall be carried out as closely as possible to those initial regulatory flexibility analyses required under section 603 of title 5, United States Code, but which shall analyze the financial impact of the proposed rule or regulation on covered persons, regardless of size; and carry out an analysis of whether the proposed rule or regulation will impair the ability of individuals and small businesses to have access to credit.
The Commission shall issue a report to the Council on each analysis carried out under paragraph (1), and make such analysis available to the public. The Commission shall use existing resources to carry out the requirements of this subsection. .
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Sec. 6
Analysis of regulations
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