The CBO has estimated the cost of the CFPB Advisory Commission Transparency Act (H.R. 4262), as ordered by the House Committee on Financial Services. The bill would require all advisory committees established by the CFPB to comply with the Federal Advisory Committee Act (FACA). The bill would require advisory committees to set out requirements for the qualifications of committee members, the timeliness and objectivity of advice provided to federal agencies and the public availability of information about activities of advisory committees, including meeting notices, records and minutes.
CBO estimates the bill would increase direct spending by $1 million.