Last month, President Bush ordered changes in how federal regulatory agencies are to give informal guidance. From The Washington Post:
President Bush issued an executive order curbing the power of agencies to regulate industry through "guidance" -- informal advice that falls short of official rules yet can still cost companies millions of dollars to comply with. The order, which also calls on agencies to project the cost of new rules, among other demands, gives the White House more power to review how they write standards to regulate corporatebehavior.The fort Wayne Journal Gazette had a small blurb about this on February 2.
I do not see much in the way of direct federal regulation in my practice - only my funeral home clients are directly regulated federally - but I think the Washington Post article shows how this can affect local businesses.