CFA is calling on members of the US Senate Committee on Homeland Security and Governmental Affairs to oppose the passage of the Regulatory Accountability Act (RAA) of 2017 (S. 951). The RAA would handcuff all federal agencies in their efforts to protect consumers. It prioritizes regulatory costs over regulatory effectiveness, adds burdensome new analytical requirements, and makes the rulemaking process more adversarial, favoring those powerful special interest groups with the resources to make the system work to their benefit. As such, the RAA would override important bipartisan laws that have been in effect for years, as well as more recently enacted laws to protect consumers from unfair and deceptive financial services, unsafe food and unsafe consumer products.
