Tuesday, April 17, 2012

Dodd Frank's Unproductive Burden

Compliance with Dodd-Frank requires an additional 24 million man hours every year.
Regulators have written only 185 of the expected 400 rules. But those 185 rules are expected to cost the private sector more than 24 million man-hours each year to comply.

The tracker has also found that those 185 rules take up more than 5,300 pages.

Texas Republican Rep. Randy Neugebauer, the chairman of the committee’s subcommittee on oversight and investigations, told The Daily Caller that means that instead of hiring people to handle small business loans, banks will be hiring staff to comply with the new government regulations, ultimately having a negative impact on job creation.

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home