Davis Polk Financial Institutions Group co-head Meg Tahyar was quoted in American Banker and Reuters discussing potential regulatory changes under the Biden administration. In both articles, Tahyar noted that Biden’s executive order to freeze any pending regulations applies only to executive agencies and not to independent agencies. Therefore, she said, the executive order may not apply to the Office of the Comptroller of the Currency (OCC)’s fair access rule, but the OCC and other independent agencies may choose to treat the order as a policy matter.
“Biden Team Lays Groundwork to Reverse Trump-Era Banking Policies,” American Banker, January 22, 2021 (subscription required)
“Biden Order on Regulation Could Freeze OCC's 'Fair Access' Regulation; Fed, SEC Rules May Also Be Affected,” Reuters, January 22, 2021 (subscription required)