Several financial regulations added more than $5.2 billion in costs this week. Monetized benefits were a paltry $700,000 and regulators finalized close to one million paperwork burden hours.
Regulators returned to regulating this week, imposing $218 million in annualized costs, compared to $80 million in benefits, and more than 800,000 paperwork burden hours. A final Securities and Exchange Commission (SEC) rule on Statistical Rating Organizations and an energy conservation proposal for air conditioners led the week.
It was yet another slow week for federal regulatory activity. Regulators added only $5.9 million in annualized costs, $1.5 million in benefits, and 351,000 paperwork burden hours. The Comptroller of the Currency finalized the most notable rulemaking, standards for large banks, insured savings institutions, and insured federal branches.
After last week’s $2 billion in regulatory costs, it was a slow week for federal rules, as regulators only published four regulations with quantified burdens. In total, costs nudged upward by $6 million and paperwork burdens increased by 356 hours.
As summer winds down and the nation heads towards the holiday weekend, agencies found time to add more than $2.2 billion in regulatory costs and 90,000 hours of paperwork. A Dodd-Frank rulemaking accounted for the vast majority of the week’s regulatory burdens.
This week regulators published $164.7 million in total regulatory costs; there were $45 million in annualized burdens, compared to $32 million in benefits, and 191,000 paperwork hours. An oil pollution proposal and a poultry inspection final rule led the week.
This week regulators added more than $7.4 billion in total costs, $376 million in annualized costs, and $33 million in benefits. In addition, despite a significant deregulatory proposal, rulemakings still added close to 600,000 paperwork burden hours.
Regulators published more than $4.1 billion in annual costs, compared to $19.7 million in benefits; there were 3.3 million paperwork burden hours added. A final rule changing the compliance date for the “International Classification of Diseases” (ICD) led the week.
Regulators published $6.1 billion in regulatory costs this week, or $19 for every person in the U.S. Annualized costs were $406 million, compared to $225 million in benefits. There were 105,000 new paperwork burden hours. A proposed safety standards regulation for railway tank cars led the week.
In a relatively modest week, regulators published $158 million in annualized costs and more than 235,000 associated paperwork burden hours; no regulation monetized possible benefits. However, the week did include notable court proceedings on the Affordable Care Act and Dodd-Frank’s fourth anniversary.