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ARTICLE · 30 JANUARY 2021

Biden Administration Regulatory Freeze Will Impact CFPB Final Rules

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On January 20, President Biden's Chief of Staff Ronald Klain issued a memorandum to the heads of executive departments and agencies setting forth the terms of a regulatory freeze.

United StatesFinance and Banking
Christopher J. Willis
Christopher J. Willis
John L. Culhane, Jr.
John L. Culhane, Jr.
Richard J. Andreano, Jr.
Richard J. Andreano, Jr.
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On January 20, President Biden's Chief of Staff Ronald Klain issued a memorandum to the heads of executive departments and agencies setting forth the terms of a regulatory freeze.

The memorandum requires the following subject to limited exceptions:

  • No rules can be issued or proposed until a department or agency head appointed by President Biden has reviewed and approved the rule.
  • A rule that has been sent to the Federal Register but not yet published must be immediately withdrawn from the Office of the Federal Register and approved by a department or agency head appointed by President Biden.
  • For a rule that has been issued or published in the Federal Register but has not yet become effective, a department or agency head should consider postponing the rule's effective date for 60 days from January 20 for the purpose of reviewing any questions of fact, law, and policy raised by the rule. During this 60-day period, where appropriate and consistent with

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