Dodd-Frank Act - White Paper - Government Accountability Office - Eleven Agencies’ Estimates of Resources for Implementing Regulatory Reform - July 14, 2011
July 14, 2011
From the white paper:
"The amount of new funding the agencies reported as associated with implementing the Dodd-Frank Act varied significantly across the 11 agencies. For example, new funding resources related to Dodd-Frank responsibilities during the years 2011–2012 ranged from a low of $0 for FTC to a high of around $329 million for CFPB. Funding resources to implement the Dodd-Frank Act accounted for at least 25 percent of the agency’s total budget increase at 9 of the 11 agencies in the most recent year for which data were available. Excluding the three agencies that the Dodd-Frank Act created (CFPB, FSOC, and OFR), the CFTC devoted the highest share of total agency resources (25 percent) to implementing the Dodd-Frank provisions. Agencies reported that most of the costs related to implementing the provisions will be recurring."