Here Comes The Rule-Making Revolution
March 09, 2017
Law360
The business of agency rule-making — a significant source of the regulatory burden that financial institutions bear — is about to undergo a significant makeover given the convergence of parallel efforts by the executive, legislative and congressional branches of the government. This new rule-making culture should slow the trend that seems to default to lengthy, complicated regulations as a proxy for safe and sound operation. The 70-year old Administrative Procedure Act could surely use some modernization to better reflect the current business and economic environment.
