Editor’s Note: Informed comments from concerned citizens have an impact on regulators.
Representative Hensarling sent a letter to OMB regarding its jurisdiction over CFPB rulemaking as a result of the recent Circuit Court ruling on the same; see( hensarling-cordray )
Well, the American Bankers Association has a different view.
CRE has been a long time advocate of bringing the independent agencies rulemaking under the jurisdiction of OMB.
Obviously the final call will be made by the incoming Administration who could be in sync with the American Bankers Association.
In 2003 the Center for Regulatory Effectiveness (CRE) issued a report on the 340(b) program in which it stated:
Drug diversion, and the intertwined crimes of adulteration and counterfeiting, is a widely recognized threat to public health. Drug diversion occurs when prescription pharmaceuticals do not follow the proper distribution chain from manufacturer to patient.
OPA has not established regulations requiring 340B entities to report on their transactions or otherwise demonstrate that all of the specially-discounted medications were used only on patients allowed by the law despite concerns expressed to the agency that failure to institute such requirements could lead to drug diversion.