Economics
Trump Appointees Can Roll Back Bank Rules, Pence Economist Says
- Mark Calabria says regulatory guidance will be initial target
- Banking-agency posts will be filled ‘in short order,’ he says
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The Trump administration’s initial efforts to attack financial regulations will include directing federal agencies to reverse changes that have been made through guidance rather than formal rule-making, a key aide to Vice President Mike Pence said Tuesday.
The White House is trying to fill vacancies at the banking-industry watchdogs “in short order,” Mark Calabria, Pence’s chief economist, said at a National Association for Business Economics conference in Washington. Once President Donald Trump’s people are in place, he said, they can quickly roll back supervisory efforts they think aren’t appropriate.