Dodd-Frank Act's Negative Impacts

As you are aware the ever-growing set of government regulations impacts supply chains, whether they are a public company or supplier to one. The one policy that I am hoping you can provide further review would be the Dodd-Frank Act. When the Dodd-Frank Act was signed, it included a provision that public corporations must be able to prove their sourced minerals are not coming from places that are financing conflict in the Democratic Republic of the Congo or an adjoining country, but further review of this policy has shown it to have negative impact for our economy and smaller businesses. The provision included the following minerals: tantalum, tin, gold and tungsten. After further review of this policy, I have found it to have numerous negative impacts that I feel should be reviewed by congress. One of my main concerns is the impact it has on small businesses. Dodd-Frank's multifaceted web of regulations seems to favor large financial businesses that can afford the lawyers to evaluate them. With new requirements, could be disproportionately costly for small banks and small credit rating agencies. My …show more content…
With a supply chain background, understanding the importance of compliance if the key to success. A good business will ensure that its products are sourced appropriately, but we must allow better access to the tools that help identify these fraudulent sources to smaller businesses. Please take a moment to review this act entirely and consider a review of the issues that are at hand. I kindly ask that you consider both supply chain and small businesses when it comes to this policy. Each day more government regulations impact supply chains, whether they are a public company or supplier to one. Not only do I find supply chain and small businesses a vital component to the United States Economy, but a key to our