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ABA: The American Bankers Association
Compliance News

ABA Comments on the Review of Bureau Rules Pursuant to the RFA

ABA filed comments in support of the Bureau's plan for the review of rules which have or will have a significant economic impact upon a substantial number of small entities pursuant to §610(a) of the Regulatory Flexibility Act (RFA). ABA recommended that, to the degree appropriate and possible, the timing of any §610 review be coordinated with any other review or assessment of a particular rule to promote the efficiency and effectiveness of the review so that it is more likely to result in a single rulemaking process when regulatory amendments are necessary. ABA also urged the Bureau to ensure it assigns sufficient staff, especially economists, and allocates adequate resources to gather and analyze data when conducting its §610 reviews. Contact Nessa Feddis with questions.