CBA Statement on White House Executive Order on Guidance

October 10, 2019
Nick Simpson

 

CBA Statement on White House Executive Order on Guidance

“Guidance can be a useful tool in clarifying complex rules and regulations but should not be used as a shortcut to implement new ones.”

 

WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after President Donald Trump signed an Executive Order on the use of regulatory guidance:

 

“Guidance can be a useful tool in clarifying complex rules and regulations but should not be used as a shortcut to implement new ones. Over the years, some regulatory heads have used the guidance process to achieve ideological goals which often limit choices for American consumers. 

 

“It is unfortunate a few individuals pushed the envelope instead of playing by the book and following the Administrative Procedure Act. CBA hopes there can be a balance in the future which allows beneficial guidance while still allowing for smart, efficient regulation.”

 

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About the Consumer Bankers Association:

The Consumer Bankers Association represents America’s leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on Twitter @consumerbankers.