The Trump Administration has made it clear that independent agencies, such as the NCUA and CFPB, do not have to comply with the executive order requiring agencies to revoke two regulations for every one rule that is adopted.
"Nevertheless, we encourage independent regulatory agencies to identify existing regulations that, if repealed or revised, would achieve cost savings that would fully offset the costs of new significant regulatory actions," guidance issued by the Office of Management and Budget stated.
President Trump has issued several executive orders dealing with regulations, including one that would require agencies to impose a freeze on regulations for a specific period of time or until they have a presidentially appointed head.
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The NCUA has said it would voluntarily comply with that order, but since President Trump has appointed J. Mark McWatters as acting chair of the board, the agency already is in compliance.
CFPB Director Richard Cordray has said his agency will continue its work.
Meanwhile, Public Citizen and two other groups have filed suit in the U.S. Court for the District of Columbia alleging that the two-for-one executive order violates statutes governing federal agencies.
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