This bill would require the Consumer Financial Protection Bureau (CFPB) to include much more detailed analysis in its proposed rules before implementation. Specifically, when the agency issues new regulations, it must publish comprehensive cost-benefit analyses that examine compliance costs for businesses and consumers, effects on competition and economic activity, and whether the regulation duplicates or conflicts with existing rules. The bill also requires the CFPB to identify alternative approaches to each regulation and explain why the chosen approach is better, and to consult with the Small Business Administration if a rule would increase costs for small businesses. Additionally, the agency must justify any regulation where the measured benefits do not outweigh the costs or where alternative approaches would produce better outcomes. These transparency requirements apply to all CFPB rulemakings going forward, affecting financial companies, small businesses, and consumers by potentially slowing the regulatory process and making it easier to challenge new rules.