Banking & Credit

Letter to House Opposing H.R. 427, the Regulations from the Executive in Need of Scrutiny Act (REINS Act)

The REINS Act (H.R. 427) would require that any agency that issues a rule with an economic impact of $100 million or more must obtain approval from both Houses of Congress of the entire rule without changes, within 70 legislative days of the rule being received by Congress. This would affect all major rules; even the many that are not controversial.