As the Chairman of the Regulatory Reform Subcommittee, I am particularly concerned that the practice of sue and settle can allow agencies to do an end run around the public participation and thorough analysis required by the Administrative Practice Act, the Regulatory Reform Flexibility Act, and other statutory requirements for rulemaking.
Bachus expresses concern about the sue-and-settle practice undermining public participation in rulemaking.
Share
More from Spencer Bachus
Again, I thank the chairmen, the ranking members, and their staff for putting this together. The resolution process for financial institutions is one of the pieces of unfinished business from the 2008 financial crisis, and we will finish…
The program also can deny legitimate merchants access to financial networks they need to survive.
In this economy, the last thing we need is to make it harder for businesses to operate and employ workers, and by that I mean legitimate businesses.
My Democratic colleagues have said they want to wrap this up. So let me just simply say to you that this is having the effect of shutting down these companies, whether that was intended or not.
Other voices in this conversation
