Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow Act of 2025; REVIEW Act of 2025
Summary
The Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow Act of 2025 (REVIEW Act of 2025) aims to amend Section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996. It mandates that federal financial institutions regulatory agencies conduct reviews of their regulations every five years, instead of every ten. The bill also requires internal reviews of the cumulative impact of these regulations, focusing on their effects on consumers, financial firms, credit availability, market liquidity, and overall economic activity.
Expected Effects
The bill will likely lead to more frequent and comprehensive assessments of financial regulations. This could result in the streamlining, simplification, or elimination of outdated and burdensome regulations. Ultimately, this aims to improve the efficiency and effectiveness of the financial regulatory system.
Potential Benefits
- Reduced Regulatory Burden: Streamlining and eliminating unnecessary regulations can reduce compliance costs for financial institutions.
- Improved Access to Financial Services: Regulations will be reviewed for their impact on consumers' access to financial products and services.
- Enhanced Market Liquidity: The bill mandates assessment of regulations' impact on credit availability and financial market liquidity.
- Increased Economic Activity: By reducing regulatory burdens, the bill could stimulate economic activity.
- Greater Transparency: Public comment is solicited as part of the review process, increasing transparency.
Most Benefited Areas:
Potential Disadvantages
- Potential for Regulatory Capture: More frequent reviews could increase the risk of regulatory capture by the financial industry.
- Increased Agency Workload: The bill mandates more frequent and comprehensive reviews, potentially straining agency resources.
- Unintended Consequences: Changes to regulations could have unforeseen negative impacts on the financial system.
- Short-Term Instability: Frequent regulatory changes could create short-term instability in the financial markets.
- Risk of Deregulation: The focus on streamlining and eliminating regulations could lead to excessive deregulation.
Constitutional Alignment
The bill appears to align with the Constitution, particularly Article I, Section 8, which grants Congress the power to regulate commerce. By requiring reviews of financial regulations, the bill aims to ensure that these regulations are efficient and effective, which falls within the scope of congressional authority over commerce. The bill does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).