WASHINGTON — House Financial Services Committee Chairman Spencer Bachus (R-Ala.) didn't address specific credit union legislative priorities during his speech at NAFCU's Congressional Caucus, but he commiserated with attendees about the dangers of excessive regulation.
"Regulation is killing America," he said.
He said the government issues a new regulation once every 2 hours and 20 minutes. To make his point, an aide brought a box filled with regulations that he brought out in several large piles. He said the financial overhaul bill that Congress passed last year will cost several billion dollars to implement.
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