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April 23, 2012

Finreg Compliance Takes 24m Hours Per Year. And Growing.

April 23, 2012

Finreg Compliance Takes 24m Hours Per Year. And Growing.

The House Financial Services Committee has unveiled the Dodd-Frank Burden Tracker, an online resource to help the public keep track of all the new government rules and red tape required by the Dodd-Frank Act.

The Dodd-Frank Act mandates that government regulators write more than 400 new rules and requirements that will be imposed on the private sector.

Since the law was passed by Congress and signed by the President Obama in July 2010, the Tracker reveals that regulators have written only 185 of the 400 rules, these 185 rules consume 5,320 pages, and it will take private sector job-creators 24,035,801 hours every year to comply with these first 185 Dodd-Frank rules.

Dodd Frank Burden Tracker

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