The American Financial Services Association (AFSA) has expressed concerns about regulatory uncertainty in a recent letter addressed to President Trump's Domestic Policy and National Economic teams. The association pointed out that such uncertainty is not new, as it has been a persistent issue created by various Washington regulators, including the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), Federal Communications Commission (FCC), and the Department of Defense.
AFSA emphasized the need for clear and fairly administered regulations that benefit both consumers and businesses. The organization supports President Trump's executive order calling for federal department and agency heads to review and potentially rescind regulations deemed unlawful or contrary to national interests. This order also targets guidance documents previously used as informal rulemaking tools instead of following formal procedures.
In its communication, AFSA identified several policies that contribute to confusion among businesses, customers, and federal regulatory staff tasked with implementation. The association's letter includes a list of recommended policies for review.