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®: CRE Regulatory Action of the Week

OMB Outlines Its Role in Overseeing Implementation of the Data Quality Act
OMB has issued a memorandum outlining its role in the implementation of the Data Quality Act. The memorandum requires that copies of certain categories of complaints be forwarded to OMB prior to agency action. The OMB memorandum also emphasizes the importance of the agency annual reports to OMB on their respective implementation of the Act. OMB has removed most reporting requirements when agencies present such information on their website. As set forth in the Reg Week article of last week, CRE plans to issue periodically CRE Interpretive Bulletins for consideration by OMB and the agencies. The Bulletins consist of CRE interpretations of agency guidelines, which if adopted, will increase the effectiveness of the implementation of the Data Quality Act.

  • Click to read the OMB Memorandum
  • CRE Regulatory Review