Regulators, mount up!

Appraisers who give outlandish estimates to hurt competition and bankers who violate civil rights by denying loans based on race are two targets of a bill that could help identify and punish errant entrepreneurs.

A proposal that unanimously cleared a House committee today would allow the state’s regulatory boards to share information with licensing bodies and other state parties, which can then reprimand the rule breakers.

Senate Bill 62 would allow the regulatory boards to share their findings on banks, real estate businesses, credit unions and savings and loans, said Chris Myklebust, commissioner of finance for the Department of Regulatory Agencies.

“This bill knocks down the walls that separate” state departments, Myklebust said.

The rules that ban information sharing were put into place to ensure that the regulatory boards couldn’t harm businesses’ reputations by making violations public, he said.

(Warren G could not be reached for comment.)

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