A regulatory reform bill backed by CUNA and NAFCU passed out of the House Thursday in a 260-163 vote.
The Small Business Regulatory Flexibility Improvement Act of 2015 (H.R. 527) would expand the number of rules covered by the Regulatory Flexibility Act (RFA), which requires federal agencies to review the economic impact of their regulations on small businesses.
"Strengthening the Regulatory Flexibility Act will help to ensure that small entities have more information about how regulations will impact them and a greater opportunity to meaningfully participate in the rulemaking process," Carrie Hunt, NAFCU SVP of government affairs and general counsel, said.
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