Financial Regulation Review Process – Passage

Passage of the bill that would modify the cycle for federal financial regulators to review rules under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 from once every 10 years to once every seven years. It would require agencies conducting such reviews to seek to tailor existing regulations to limit regulatory compliance impacts, costs, liability risks and other burdens, and would expand the agencies' scope of rules under review to include those that impose requirements on individuals or companies that offer consumer financial products or services.