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In Early Going, Biden Floods The Zone With Decrees

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President Joe Biden is flooding the zone with them, achieving head-snapping changes in national policy that he would have no hope of getting from Congress quickly, if at all. As President Donald Trump discovered with his hard-charging and often ill-fated executive actions, courts can be quick to shoot them down. Congress can effectively override them and at…

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The proposals are advancing not only in Texas and other traditional red states but also in such places as Arizona, Georgia and Pennsylvania that supported Donald Trump four years ago, only to flip for Joe Biden in November. Many Republicans have said the new bills are meant to shore up public confidence after Trump and his GOP allies, without evidence, criticized…

The United States Attorney's Office announced that a grand jury returned a superseding indictment against ASHTON J. RYAN, age 73, of Kenner; WILLIAM BURNELL, age 71, of Kenner; ROBERT BRAD CALLOWAY, age 60, of Metairie; FRANK J. ADOLPH, age 61, of Kenner; and FRED V. BEEBE, age 62, of Donaldsonville, for defrauding First NBC Bank, the New Orleans- based bank that failed in…

United States Senator Elizabeth Warren; a member of the Senate Committee on Banking, Housing, and Urban Affairs; today sent a letter to Acting Securities and Exchange Commission Chair Allison Herren Lee requesting that the agency provide Congress and the public information on how they will address the dramatic swings in market valuation of GameStop and…

WASHINGTON, Jan. 29– The Competitive Enterprise Institute, a non-profit public policy organization, issued the following statement on Jan. 28, 2021, by financial policy expert John Berlau:. President Biden's Office of the Comptroller of the Currency today announced that it was halting publication of a final banking rule, pending review. CEI financial policy…

Robinhood, a no-fee investment app, prevented its users on Thursday from purchasing new stock in certain publicly traded companies, including GameStop, AMC Entertainment, and BlackBerry, among others. GameStop’ s stock, for example, began the month below $20 per share, but was north of $300 per share at Wednesday’ s market close. More than half of Robinhood’ s…

Chair Jerome Powell said Wednesday that the Federal Reserve will keep pursuing its low-interest rate policies until an economic recovery is well underway, acknowledging that the economy has faltered in recent months. The Fed said in a statement after its latest policy meeting that hiring and economic growth had slowed.

The Congressional Review Act was a little-used device that Republicans used frequently early in the Trump presidency. It’s a model that a Democrat-controlled Senate could employ to kill two rules that invited public scorn.

Department of Labor officials alerted the White House Wednesday that it has completed work on a reworked rule to regulate investment advice to workers and retirees. No details are available on any changes to the rule, which could be rescinded by the incoming Biden administration.

Although President-elect Joe Biden will exert considerable influence over the Securities and Exchange Commission, the agency’s Regulation Best Interest is probably not going anywhere. At least not right away, say industry officials.

The Department of Labor has one week to publish its investment advice rule to avoid a quick hook by the incoming Joe Biden administration. Any rules published in the final 60 days of an administration, known as “midnight regulations,” can be rescinded by the incoming administration.
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