House to Regulators: Cut the Duplicative and Outdated Rules (H.R. 4466)
Do you support or oppose this bill?
What is H.R. 4466?
(Updated January 31, 2017)
This bill deals with checking to see whether newly proposed orders or regulations from a number of different financial regulation entities are duplicative and/or outdated. If these regulatory entities find that a rule is not up to date or overlaps with another rule that entity is to submit a report to Congress making recommendations for repealing or amending any conflicting, inconsistent, duplicative, or outdated laws or regulations within 60 days of a proposed rulemaking. The affected regulating entities are: the Consumer Financial Protection Bureau, the Federal Reserve Board of Governors, the National Credit Union Administration (NCUA), the Federal Deposit Insurance Corporation (FDIC), Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency (OCC), and the Commodity Futures Trading Commission (CFTC).
Argument in favor
Would help to ensure that proposed financial regulations are put forward in a thoughtful manner that takes into account existing regulations.
Argument opposed
Potentially costly to taxpayers due to a likely climb in labor at seven different regulatory entities, in order to self-analyze on a deadline.
Impact
The bill impacts seven different regulatory entities that provide oversight of U.S. financial markets.
Cost of H.R. 4466
A CBO cost is currently unavailable.
Additional Info
- H.R. 4200, the "SBIC Advisers Relief Act of 2014"
- H.R. 4521, the "Community Institution Mortgage Relief Act"
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H.R. 4554, the "Restricted Securities Relief Act of 2014"
- H.R. 4568, the "Small Business Freedom to Grow Act of 2014"
- H.R. 4569, the "Disclosure Modernization and Simplification Act of 2014"
- H.R. 4570, the "Private Placement Improvement Act of 2014"
- H.R. 4571, to direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans
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H.R. 4565, the "Startup Capital Modernization Act of 2014"
- H.R. 4564, the "Equity Crowdfunding Improvement Act of 2014"
- H.R. 2629, the "Fostering Innovation Act of 2013"
- H.R. 1779, the "Preserving Access to Manufactured Housing Act of 2013"
- H.R. 2673, the "Portfolio Lending and Mortgage Access Act"
- H.R. 3211, the "Mortgage Choice Act of 2013
(Photo Credit: Mendoza College of Business)
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