Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – Pennsylvania Governor Edward Rendell has vetoed a bill that would have required state regulators to consider the financial impact of new regulations on small businesses. The Pennsylvania Credit Union Association had said it would be “supportive of any initiative that gives consideration to the needs of small businesses when making regulations,” according to Michael Wishnow, PCUA’s senior vice president, communications and marketing. HB 2442, which recently unanimously passed both houses of the Pennsylvania General Assembly, would have strengthened Pennsylvania’s Independent Regulatory Review Commission (IRRC) in its role of the reviewing regulations, according to the SBA’s Office of Advocacy. The legislation would have required state regulators to consider the financial, economic, and social impact of new regulations on small businesses. Rendell said the IRRC has “a deficient election process.” “I have received no evidence that the Commission’s election process for chair is flawed,” the Governor wrote in his Dec. 1 veto message to the legislature. “I am impressed with the hard work of the members of the Commission and believe their guidance on the structure and operation of the Commission is warranted before any legislation is passed affecting this structure.” HB 2442 would have implemented some elements of small business friendly regulatory legislation put forward as a model by the SBA. Similar to the federal Regulatory Flexibility Act (RFA), the model encourages entrepreneurial success by requiring state agencies to consider their impact on small business before they issue final regulations. So far, small business regulatory flexibility has been signed into law by governors in Connecticut, Kentucky, Missouri, Rhode Island, South Carolina, South Dakota, and Wisconsin and is being considered in 17 states, according to the SBA. [email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.