Financial Guidance Review Act of 2021

Bill 117 HR 4232, also known as the Financial Guidance Review Act of 2021, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to establish a review process for financial guidance issued by federal agencies.

The bill aims to ensure that financial guidance provided by federal agencies is clear, consistent, and based on sound analysis. It also seeks to promote transparency and accountability in the development and issuance of financial guidance.

Under the Financial Guidance Review Act of 2021, federal agencies would be required to conduct periodic reviews of their financial guidance to ensure that it remains relevant and up-to-date. Agencies would also be required to provide opportunities for public input and feedback on their financial guidance. Additionally, the bill includes provisions to streamline the process for requesting and obtaining waivers from financial guidance requirements. It also requires agencies to consider the impact of their financial guidance on small businesses and other stakeholders. Overall, the Financial Guidance Review Act of 2021 aims to improve the quality and effectiveness of financial guidance issued by federal agencies, while also promoting transparency and accountability in the regulatory process.