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house Bill H.R. 4466

House to Regulators: Cut the Duplicative and Outdated Rules

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.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Agriculture
      Committee on Financial Services
    IntroducedApril 10th, 2014

What is House Bill H.R. 4466?

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newly proposed orders or regulations from a number of different financial regulation entities are duplicative and/or outdated.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a report to Congress making recommendations for repealing or amending any conflicting, inconsistent, duplicative, or outdated laws or regulations within 60 days of a proposed rulemaking.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). 

Impact

The bill impacts seven different regulatory entities that provide oversight of U.S. financial markets.

Cost of House Bill H.R. 4466

A CBO cost is currently unavailable.

AKA

Financial Regulatory Clarity Act of 2014

Official Title

To require certain financial regulators to determine whether new regulations or orders are duplicative or inconsistent with existing Federal regulations, and for other purposes.

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