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Thursday, December 4, 2014

CBO Estimates Cost of CFPB Advisory Opinion Act

The Congressional Budget Office (CBO) estimates that enacting the Bureau Advisory Opinion Act (H.R. 4662) would increase direct spending by the CFPB by $815 million over the 2015-2024 period. The act would direct the CFPB to respond to specific inquiries about whether prospective activities comply with consumer financial laws. In preparing those responses, the CFPB would be required to provide a notice and comment period in order to gain the views of interested parties.

Read the CBO estimate.

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