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The Latest on the Trump Administration: Feb. 2–8

Over the last week, the Trump administration initiated a review of U.S. financial regulations and secured the confirmation of Betsy DeVos as Secretary of Education.
For an overview of administration activity to date and insight into potential legislative and regulatory actions, register for the Feb. 16 webinar “Learn the Latest on the Trump Administration” presented by ABC’s general counsel Littler Mendelson, P.C.

Financial Regulation
On Feb. 3, President Trump issued an executive order that directs the Secretary of the Treasury, in cooperation with the Financial Stability Oversight Council, to reexamine “existing laws, treaties, regulations, guidance, reporting and recordkeeping requirements” in light of the administration’s “Core Principles” of financial regulation. 

The president also released a memorandum on Feb. 3 that directs the U.S. Department of Labor to review the impact of the DOL fiduciary final rule on investors and retirees.  If the review identifies a negative impact on these groups, the memorandum directs the department to craft a proposed rule to revise or rescind the current final rule. 

The U.S. District Court for the Western District of Washington recently issued a temporary restraining order to prevent further enforcement of the president’s executive order that barred individuals from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen from entering the United States for 90 days.  During this time, the order directed the Secretary of Homeland Security and the heads of other relevant agencies to review and develop the screening process for entry. 

For more information on the suspended order, see this detailed analysis by ABC’s general counsel Littler Mendelson, P.C.

Nominations & Appointments
The U.S. Senate confirmed Betsy DeVos as Secretary of Education on Feb. 7.  

The Feb. 14 confirmation hearing for President Trump’s nominee for Secretary of Labor, Andy Puzder, has been postponed. Edward Hugler is currently serving as acting Secretary of Labor. 

For more information on the administration’s executive actions and appointments, visit the White House Briefing Room website.

For a recap of administration activity between Jan. 20 – Feb. 1, please read this Newsline article

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