New Biden Admin Decision: Control of FRB, Other Independent Agencies
As 2020 came to a close, the Department of Justice issued a little-noticed opinion stating that the President may compel independent regulatory agencies to submit significant rules for OIRA review at both the proposed and final stages under Executive Order 12,866.
Agencies Plan Cautious Steps to AI Standards
Reflecting the changed U.S. political climate, FRB Gov. Brainard today recast longstanding Fed concerns about AI underwriting in economic-equality terms, announcing that the banking agencies are now considering a request for input on AI use.