Issues to Consider

• Need for statutory change. Do the statutes impose unnecessary requirements? Are any of the statutory requirements underlying these categories imposing redundant, conflicting or otherwise unduly burdensome regulatory requirements?

  ---

• Need and purpose of the regulations. Do the regulations in these categories fulfill current needs? Has industry or other circumstances changed since a regulation was written such that the regulation is no longer necessary? Have there been shifts within the industry or consumer actions that suggest a re-focus of the underlying regulations? Do any of the regulations in these categories impose burdens not required by their authorizing statutes?

  ---

• Overarching approaches / flexibility of the regulatory standards. Generally, is there a different approach to regulating that the Agencies could use that would achieve statutory goals while imposing less burden? Do any of the regulations in these categories or the statutes underlying them impose unnecessarily inflexible requirements?

  ---

• Effect of the regulations on competition. Do any of the regulations in these categories or the statutes underlying them create competitive disadvantages for one part of the financial services industry compared to another?

  ---

• Reporting, recordkeeping and disclosure requirements. Do any of the regulations in these categories or the statutes underlying them impose particularly burdensome reporting, recordkeeping or disclosure requirements? Are any of these requirements similar enough in purpose and use so that they could be consolidated? Which, if any, of these requirements could be fulfilled electronically to reduce their burden?

  ---

• Consistency and redundancy. Do any of the regulations in these categories or the underlying statutes impose inconsistent or redundant regulatory requirements that are not warranted by the circumstances?

  ---

• Clarity. Are the regulations in these categories and the underlying statutes drafted in clear and easily understood language? Are there specific regulations or underlying statutes that need clarification?

  ---

• Burden on small insured institutions. The Agencies have a particular interest in minimizing burden on small insured institutions (those with assets of $150 million or less). The Agencies solicit comment on whether any regulations within these categories should be continued without change, or amended or rescinded in order to minimize any significant economic impact the regulations may have on a substantial number of small insured institutions.

  ---