AFSA 100 Day Tracker | Trump Administration Launches Working Group on Mortgage Finance Policy

WHAT HAPPENED

The Department of Defense’s (DoD) Military Lending Act (MLA) regulations are on the Trump administration’s radar and are currently a topic of internal conversation according to Mark Calabria, Chief Economist for Vice President Mike Pence. According to remarks made today, Calabria said that the administration is also looking at how to expand the scope of President Trump’s executive action on regulations and the ways they can bring independent regulators into that picture. The Trump Administration has also launched a group to work on mortgage finance policy.

WHAT IT MEANS TO AFSA MEMBERS

Calabria’s comments reaffirm conversations AFSA has had with the administration regarding challenges with the CFPB and the MLA and their effect on access to credit. If the Trump Administration’s executive orders on regulations are expanded to include independent agencies, it could mean the CFPB will be subject to the orders temporarily suspending regulations and requiring the elimination of two regulations for every new one issued.