Matthew Boyle
The Daily Caller
4/16/2012
The House Financial Services Committee plans to release a new Web resource aimed at tracking the regulatory burden of the Dodd-Frank financial overhaul Congress passed in 2010. The “Dodd-Frank Burden Tracker” is set to measure how much of a negative effect the legislation will have.
According to a release The Daily Caller obtained that will be sent out with the announcement of the new Web service, the legislation — and the rules government regulators have written to go with it — has already had a profound effect on the financial sector.
Regulators have written only 185 of the expected 400 rules. But those 185 rules are expected to cost the private sector more than 24 million man-hours each year to comply.
The tracker has also found that those 185 rules take up more than 5,300 pages…
The article continues at The Daily Caller.
