CRE Homepage About The CRE Advisory Board Newsletter Search Links Representation Comments/Ideas
Data Access
Data Quality
Regulation by Litigation
Regulation by Appropriation
Special Projects
CRE Watch List
OMB Papers
Abstracts and Reviews
Regulatory Review
Voluntary Standards Program
CRE Report Card
Public Docket Preparation
Consumer Response Service
Site Search

Enter keyword(s) to search

®: CRE Regulatory Action of the Week

CRE Letter to GAO Inspector General
CRE has written the Inspector General of the General Accountability Office to request that they investigate GAO’s compliance with the requirements of Congressional Review Act regarding the internet gambling rulemaking. OMB determined that the UIGEA is a major rule under the CRA and an economically significant regulatory action under EO 12866. GAO wrote their deficient report despite a CRE letter to GAO documenting specific procedural deficiencies by Treasury and the Federal Reserve in the UIGEA rulemaking.

In their report, GAO ignored SBA’s determination that the Treasury Department and the Federal Reserve did not adequately assess the small business impacts of the rule under the Regulatory Flexibility Act. The report also did not explain that the final rule falsely stated that Treasury received authorization from OMB under the PRA for the information collection.

America’s financial institutions are in crisis. GAO’s failure to inform Congress that small banks did not receive statutorily-mandated protections in the UIGEA rulemaking needs to be rapidly addressed.

  • Click here to read CRE Letter to GAO IG 12/15/08
  • Click here to read CRE Letter to GAO 11/21/08