Obama orders ‘government-wide review’ of business regulations

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WASHINGTON — President Obama on Tuesday ordered “a government-wide review” of federal regulations to root out those “that stifle job creation and make our economy less competitive,” but exempted many agencies that most vex corporate America.

The executive order that Mr. Obama signed at the White House would not apply to federal agencies created to be largely independent of the White House and Congress, which includes most of those currently enforcing and writing rules for banks and other financial institutions mandated by the regulatory overhaul law that Mr. Obama signed last year to avoid future crises.

While it remains unclear what substantive impact Mr. Obama’s action will have, the political underpinning was apparent.

Full Story: Obama Orders ‘Government-Wide Review’ of Regulations – NYTimes.com