The Consumer Financial Protection Bureau published a notice this week of its intentions to periodically review regulations that it enforces and request public feedback on the impact they have on small businesses.
Once the notice is published in the Federal Register, the public will have 60 days to comment.
The Regulatory Flexibility Act (RFA) requires federal agencies to review certain rules within 10 years of their publication. The purpose of the review is to minimize any significant economic impact of the rules upon a substantial number of small entities, consistent with the stated objectives of applicable statutes. At the end of each review, the Bureau will determine whether the rule should be continued without change or should be amended or rescinded.
Learn more at ConsumerFinance.gov.