White House to Require Review of Federal Agencies’ Rule Proposals

The action applies to independent federal agencies’ compliance with the Congressional Review Act and the administration’s role to determine the impact of their rules on the economy, consumers and businesses.

4/15/2019 9:30 AM

AdvocacyCFPBNewsGovernment
White House to Require Review of Federal Agencies’ Rule Proposals

New proposed guidelines and rules from federal agencies will require review by the White House to classify whether they are “major” or “minor,” as defined by the Congressional Review Act (CRA), The Washington Post reports.

Russell Vought, the acting director of the White House Office of Management and Budget (OMB), issued an April 11 memo with the new requirements.

“Previously, Congress was only able to apply the CRA to rules, not guidance, but the OMB memo would attempt to change that,” according to The Washington Post.

The action applies to agencies such as the Federal Reserve, the Securities and Exchange Commission, the Consumer Product Safety Commission, the Federal Election Commission and the Commodity Futures Trading Commission, according to the article.

“Although the chairmen of these agencies are often appointed by the president and confirmed by the Senate, their policies are established by the vote of a commission with bipartisan membership. And, unlike agencies such as the Treasury Department whose leadership reports directly to the president, historically the White House has not had authority over their actions,” it reports.

Vought notes in the memo the requirements are within its authority under the CRA.

Specifically, according to the memo, the CRA defines an agency’s rule as major if it has resulted in or is likely to result in:

  • An annual effect on the economy of $100,000,000 or more;
  • A major increase in costs or prices for consumers, individual industries, federal, state or local government agencies, or geographic regions; or
  • Significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets.

The CFPB has issue guidance that impacts the debt collection industry. ACA International will continue to follow the proposed guidelines from the White House for any actions that involve the bureau. 


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