FOR IMMEDIATE RELEASE
March 24, 2018
Public Interest Groups Call for Financial Regulation Moratorium
A group of 47 public interest groups today sent a letter calling on U.S. financial regulators to cease all rulemaking not related to the COVID-19 crisis until at least 30 days after the lifting of the current national emergency.
“Every federal agency must dedicate all regulatory resources to addressing COVID-19 and the enforcement of rules meant to protect public health, consumers, investors and retirees, and the integrity and stability of the markets. The pursuit of any non-crisis-related rulemaking would be a misallocation of limited resources that distracts needed focus from U.S. public health and welfare, and financial stability. This is especially crucial because the crisis means that agency capacity and resources will themselves be unusually limited.”
A copy of the letter is posted here.
A letter seeking an extension of comment periods for pending rulemakings went to regulators last week.