While the new president has promised changes in regulations, he is likely to focus on those regulations that impact business strategies, profits and reporting. Think about it, he owns hotels, entertainment venues, golf courses, those are impacted by the EPA, taxes, accounting, and wage and hour regulations. What is in it for him to loosen the strings on banking? Add to that the fact that the CFPB and other regulators, such as the FDIC, are independent agencies, I doubt you will see much change in consumer protection regulations. We are likely to see changes in the accounting guidelines, such as FASB and even some tax relief, but…..
Consumer Protection is a political hotbed, if a candidate is found to throw the consumer under the bus, so to speak, how will they fare in upcoming elections? Just food for thought.
Don’t go thinking you are going to get lots of that much needed vacation time, I suspect we will see little change. I do think we won’t see many “new” regulations, but remember, the Dodd-Frank is full of new regulations that haven’t been implemented yet.