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Financial Regulators Fail to Evaluate Combined Impact of Rules: GAO

“Regulators do not assess the cumulative burden of the regulations they administer,” the GAO said.

Government Accountability Office

Financial regulators often fail to assess the cumulative weight of all rules imposed on community banks and credit unions—an omission that contributes to the regulatory burden the institutions face, the Government Accountability Office said, in a report released Tuesday.

“Congressional intent in mandating that these regulators review their regulations was that the cumulative effect of all federal financial regulations be considered,” the agency said, in a report released at a House Small Business Committee hearing.

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