1. Short title This Act may be cited as the Making the CFPB Accountable to Small Businesses Act of 2023 . 2. Rulemaking under Dodd-Frank Wall Street Reform and Consumer Protection Act Section 1022(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5512(b)(2)(A) ) is amended— (1) in clause (i), by striking and at the end; (2) in clause (ii), by striking the semicolon at the end and inserting ; and ; and (3) by adding at the end the following: (iii) the impact of proposed rules on small entities, in accordance with section 609 of title 5, United States Code; . 3. Initial regulatory flexibility analysis Section 603(d)(1) of title 5, United States Code, is amended— (1) in subparagraph (B), by striking and at the end; (2) in subparagraph (C), by striking the period and inserting ; and ; and (3) by adding at the end the following: (D) where the covered agency does not adopt any alternatives described in paragraphs (1) through (4) of subsection (c), a detailed justification of the covered agency’s determination that the relative size and resources of small entities should have no bearing on the rule, supported by factual, policy and legal reasons. . 4. Final regulatory flexibility analysis Section 604(a) of title 5, United States Code, is amended in the second paragraph (6) to read as follows: (7) for a covered agency, as defined in section 609(d)(2), a description of the steps the agency has taken to minimize any additional cost of credit for small entities and, where no significant alternatives for small entities was adopted, a detailed justification of the covered agency’s determination that the relative size and resources of small entities should have no bearing on the rule, supported by factual, policy and legal reasons. .