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White House Calls for Government Wide Regulatory Freeze; CUNA Urges CFPB to Follow Suit.

Mon, Jan 23, 2017

District Of Columbia

As the new Trump Administration began, one of its first acts was to issue a memo to all executive department heads and agencies to halt any new federal regulations pending OMB review, as well as, any regulations that have been previously approved but not yet published in the federal register. The memo, while simply a first step, should be seen as a signal of a more concerted effort on the part of the new Administration in the area of regulatory relief which had been a big part of the Trump campaign’s platform.  

As a follow-up to the White House memo, CUNA sent a letter to the CFPB regarding the government-wide freeze, urging the Bureau to follow-suit by halting all new or pending regulations. While the Bureau is technically independent, it remains to be seen if the Bureau will comply, but chances are that they will. Either way, it should be expected that the CFPB will be at the center of a number of regulatory, federal court and Congressional actions in the coming months.

The Association will continue to monitor and report on developments in this important area, particularity as ‘regulatory relief’ issues will be a big part of the overall messaging (system-wide) during the 2017 GAC Hike the Hill.

Contact: Glen Cooney, 443-325-0775, gcooney@mddccua.org