§5496b Gao Study of Financial Regulations

Summary

The Comptroller General must study financial rules, including what the Bureau does, within 180 days after this Act is passed and then once each year. The study must look at how rules affect the financial market: safety and soundness of firms, cost and access to credit, consumer savings, paperwork burdens, changes in personal and small business bankruptcies, costs to follow the rules, and whether federal agencies use sound cost‑benefit analysis when making rules. The study must also check for duplicate or conflicting rulemaking, including the consultative process under subparagraphs (B) and (C) of section 5512(b)(2), information requests, and examinations, and any other related matters the Comptroller General thinks fit. Within 30 days after each study is done, the Comptroller General must send Congress a report with all findings and any recommendations for laws or administrative actions.