The Small Business Coaltion for Regulatory Relief has identified an important component of the Dodd-Frank bill which could play a substantial role in “regulating the regulators” . Here is report written by the Coalition.
The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law last week by President Obama. The law contains a provision designed to lessen the negative impact on small business caused by a flood of federal mandates from the newly created Consumer Financial Protection Bureau (CFPB). The Small Business Fairness and Regulatory Transparency Amendment authored by Senators Olympia Snowe (R-ME) and Mark Pryor (D-AR) does two things: