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Article Details Impact on Banks of Trump Executive Actions

Posted on 3/24/2017

Since taking office, President Trump has issued six executive orders or memoranda with significance for bank regulation -- some consequential, some perhaps overhyped. A new ABA Banking Journal article helps banks understand the impact of Trump's actions.

In the article, ABA's Wayne Abernathy and Shaun Kern outline in detail the projected impacts of Trump's orders setting a regulatory budget, requiring regulatory reform task forces and setting core principles for financial regulation, as well as his memos calling for regulatory and hiring freezes and a review of the fiduciary rule. They also spotlight ABA actions analyzing and responding to these actions.

"President Trump's early executive actions are a welcome set of initial moves in the direction of reducing regulatory overreach, duplication, and overgrowth," write Abernathy and Kern. "The hard work of getting into the details remains. The banking industry must play a significant part in that effort, as no one knows as well as bankers do which rules and regulations and provisions of law are inhibiting banks' ability to serve the financial needs of their customers."

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