Analyzing Regulatory Burden: Policies and Analyses Under the Regulatory Flexibility Act and Retrospective Reviews Could Be Improved, Statement of Michael Clements, Director, Financial Markets and Community Investment, Testimony Before the Committee on Small Business, House of Representatives [open pdf - 241KB]
"Federal financial regulators must comply with various rulemaking and review requirements, including those in RFA (Regulatory Flexibility Act) and EGRPRA (Economic Growth and Regulatory Paperwork Reduction Act). These statutes require analyses relating to regulatory burden, small entities, or both. RFA requires analyses of a rule's impact on small entities and alternatives that may minimize any significant economic impact. It also requires agencies to review rules (within 10 years) to determine if the rules should be amended or rescinded. EGRPRA directs specified regulators to review regulations at least every 10 years and identify areas that are outdated, unnecessary, or unduly burdensome on insured depository institutions."
|Publisher:||United States. Government Accountability Office|
|Retrieved From:||Government Accountability Office: http://www.gao.gov/|