Senator Heller Calls for Answers
Feb. 12, 2016 Senator Heller along with his other Republicans colleagues on the Senate Banking Committee sent the
attached letter to the FDIC, NCUA, Fed, and OCC pushing for answers on what outdated, unnecessary or unduly burdensome regulations on banks and credit unions have been identified by these regulators though their current EGRPRA process.
Congress passed the EGRPRA law which requires that regulations prescribed by financial agencies must be reviewed at least once every 10 years in order to identify outdated, unnecessary, or unduly burdensome regulations and consider how to reduce regulatory burden on insured depository institutions. The second ever EGRPRA review is currently underway and their last outreach meeting was in December. This is a unique opportunity to lift unnecessary regulatory burdens.