House Lawmakers Launch Dodd-Frank Burden Tracker

Lawmakers seated on the ""House Financial Services Committee"":http://financialservices.house.gov/ recently unveiled a new online resource for members of the public to track ""burdens"" created by the Dodd-Frank Act.

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The so-called ""Dodd-Frank Burden Tracker"":http://financialservices.house.gov/UploadedFiles/Dodd-Frank_PRA_Spreadsheet_4-16-2012_banner.pdf includes a spreadsheet with rules by agency, page length, date of proposal, and more.

The committee ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô comprised by conservative Republicans ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô billed the tracker as a means to transparency for some 185

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of 400 rules, which currently take up more than 5,000 pages, according to information from a statement.

Lawmakers laid claim to estimates that Dodd-Frank will obligate private-sector businesses to spend close to 25 million hours every year to comply with the first 185 rules.

""This online resource will help the public better understand how the cumulative weight of these new rules ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô layered upon existing outdated, unnecessary and duplicative red tape ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô hurts small businesses and financial institutions,"" committee chairman Rep. ""Spencer Bachus"":http://bachus.house.gov/ (R-Alabama) said in a statement.

""While the promised benefits of Dodd-Frank are still illusory, the costs are beginning to become crystal clear,"" Rep. ""Randy Neugebauer"":http://randy.house.gov/ (R-Texas) added.

With a sweep by Tea Party-affiliated conservatives in 2010, the House Financial Services Committee remains on the offensive when it comes to much of Dodd-Frank.

On Wednesday the committee cleared a bill for House vote that would repeal bailout fund requirements under Dodd-Frank and tether the ""Consumer Financial Protection Bureau"":http://www.consumerfinance.gov/ to congressional appropriations.