WEBVTT NOTE This file was generated by Descript 00:00:05.470 --> 00:00:07.400 Samantha: Hello, this is Samantha Shares. 00:00:08.109 --> 00:00:11.920 This episode covers President Trump's Executive Order: Ensuring 00:00:11.920 --> 00:00:13.860 Accountability for All Agencies. 00:00:14.578 --> 00:00:16.988 The following is an audio version of that order. 00:00:17.538 --> 00:00:20.728 This podcast is educational and is not legal advice. 00:00:21.168 --> 00:00:25.188 We are sponsored by Credit Union Exam Solutions Incorporated, whose 00:00:25.188 --> 00:00:28.248 team has over two hundred and Forty years of National Credit 00:00:28.248 --> 00:00:30.088 Union Administration experience. 00:00:30.638 --> 00:00:34.298 We assist our clients with N C U A so they save time and money. 00:00:34.828 --> 00:00:38.818 If you are worried about a recent, upcoming or in process N C U A 00:00:38.818 --> 00:00:43.168 examination, reach out to learn how they can assist at Mark Treichel DOT COM. 00:00:43.628 --> 00:00:47.958 Also check out our other podcast called With Flying Colors where we provide tips 00:00:47.958 --> 00:00:50.518 on how to achieve success with N C U A. 00:00:51.252 --> 00:00:52.642 And now the executive order. 00:00:53.457 --> 00:00:57.127 By the authority vested in me as President by the Constitution and 00:00:57.127 --> 00:01:00.877 the laws of the United States of America, it is hereby ordered: 00:01:01.615 --> 00:01:02.375 Section 1. 00:01:02.925 --> 00:01:04.175 Policy and Purpose. 00:01:04.745 --> 00:01:08.795 The Constitution vests all executive power in the President and charges him 00:01:08.795 --> 00:01:10.695 with faithfully executing the laws. 00:01:11.325 --> 00:01:15.175 Since it would be impossible for the President to single-handedly perform all 00:01:15.175 --> 00:01:19.475 the executive business of the Federal Government, the Constitution also provides 00:01:19.475 --> 00:01:23.455 for subordinate officers to assist the President in his executive duties. 00:01:24.125 --> 00:01:26.845 In the exercise of their often-considerable authority, 00:01:27.165 --> 00:01:30.455 these executive branch officials remain subject to the President’s 00:01:30.545 --> 00:01:32.515 ongoing supervision and control. 00:01:32.955 --> 00:01:37.455 The President in turn is regularly elected by and accountable to the American people. 00:01:38.105 --> 00:01:41.785 This is one of the structural safeguards, along with the separation of powers 00:01:41.785 --> 00:01:45.485 between the executive and legislative branches, regular elections for the 00:01:45.485 --> 00:01:49.455 Congress, and an independent judiciary whose judges are appointed by the 00:01:49.455 --> 00:01:53.405 President by and with the advice and consent of the Senate, by which 00:01:53.405 --> 00:01:56.705 the Framers created a Government accountable to the American people. 00:01:57.529 --> 00:02:01.529 However, previous administrations have allowed so-called “independent 00:02:01.529 --> 00:02:05.479 regulatory agencies” to operate with minimal Presidential supervision. 00:02:06.149 --> 00:02:09.909 These regulatory agencies currently exercise substantial executive 00:02:09.909 --> 00:02:13.279 authority without sufficient accountability to the President, and 00:02:13.279 --> 00:02:15.079 through him, to the American people. 00:02:15.859 --> 00:02:18.849 Moreover, these regulatory agencies have been permitted to 00:02:18.849 --> 00:02:22.349 promulgate significant regulations without review by the President. 00:02:23.044 --> 00:02:27.104 These practices undermine such regulatory agencies’ accountability to the 00:02:27.104 --> 00:02:31.614 American people and prevent a unified and coherent execution of Federal law. 00:02:32.244 --> 00:02:35.724 For the Federal Government to be truly accountable to the American people, 00:02:36.044 --> 00:02:40.254 officials who wield vast executive power must be supervised and controlled 00:02:40.254 --> 00:02:41.904 by the people’s elected President. 00:02:42.629 --> 00:02:45.869 Therefore, in order to improve the administration of the executive 00:02:45.869 --> 00:02:49.649 branch and to increase regulatory officials’ accountability to the 00:02:49.649 --> 00:02:53.459 American people, it shall be the policy of the executive branch to 00:02:53.459 --> 00:02:57.759 ensure Presidential supervision and control of the entire executive branch. 00:02:58.269 --> 00:03:02.859 Moreover, all executive departments and agencies, including so-called independent 00:03:02.859 --> 00:03:07.699 agencies, shall submit for review all proposed and final significant regulatory 00:03:07.699 --> 00:03:11.869 actions to the Office of Information and Regulatory Affairs (OIRA) within the 00:03:11.869 --> 00:03:15.859 Executive Office of the President before publication in the Federal Register. 00:03:16.593 --> 00:03:17.043 Sec. 00:03:17.493 --> 00:03:17.813 2. 00:03:18.263 --> 00:03:19.083 Definitions. 00:03:19.723 --> 00:03:21.273 For the purposes of this order: 00:03:22.020 --> 00:03:25.600 (a) The term “employees” shall have the meaning given that term in section 00:03:25.600 --> 00:03:28.860 2105 of title 5, United States Code. 00:03:29.636 --> 00:03:33.566 (b) The term “independent regulatory agency” shall have the meaning 00:03:33.566 --> 00:03:38.986 given that term in section 3502(5) of title 44, United States Code. 00:03:39.596 --> 00:03:43.426 This order shall not apply to the Board of Governors of the Federal Reserve System 00:03:43.756 --> 00:03:47.726 or to the Federal Open Market Committee in its conduct of monetary policy. 00:03:48.326 --> 00:03:51.466 This order shall apply to the Board of Governors of the Federal Reserve 00:03:51.466 --> 00:03:55.266 System only in connection with its conduct and authorities directly 00:03:55.266 --> 00:03:59.126 related to its supervision and regulation of financial institutions. 00:03:59.795 --> 00:04:04.105 (c) The term “independent regulatory agency chairman” shall mean, with 00:04:04.105 --> 00:04:08.425 regard to a multi-member independent regulatory agency, the chairman of such 00:04:08.455 --> 00:04:12.885 agency, and shall mean, with regard to a single-headed independent regulatory 00:04:12.885 --> 00:04:17.495 agency, such agency’s chairman, director, or other presiding officer. 00:04:18.257 --> 00:04:22.247 (d) The term “head” of an independent regulatory agency shall mean those 00:04:22.247 --> 00:04:26.467 appointed to supervise independent regulatory agencies and in whom the 00:04:26.467 --> 00:04:30.167 agencies’ authorities are generally vested, encompassing the chairman, 00:04:30.257 --> 00:04:34.297 director, or other presiding officer, and, as applicable, other 00:04:34.297 --> 00:04:38.157 members, commissioners, or similar such officials with responsibility 00:04:38.157 --> 00:04:40.067 for supervising such agencies. 00:04:40.765 --> 00:04:41.225 Sec. 00:04:41.615 --> 00:04:41.945 3. 00:04:42.415 --> 00:04:44.695 OIRA Review of Agency Regulations. 00:04:45.325 --> 00:04:52.075 (a) Section 3(b) of Executive Order 12866 of September 30, 1993 (“Regulatory 00:04:52.075 --> 00:04:56.495 Planning and Review”), as amended, is hereby amended to read as follows: 00:04:57.208 --> 00:05:01.168 “(b) “Agency,” unless otherwise indicated, means any authority 00:05:01.168 --> 00:05:05.908 of the United States that is an “agency” under 44 U.S.C. 00:05:05.908 --> 00:05:09.308 3502(1), and shall also include the Federal Election Commission. 00:05:10.098 --> 00:05:14.038 This order shall not apply to the Board of Governors of the Federal Reserve System 00:05:14.438 --> 00:05:18.588 or to the Federal Open Market Committee in its conduct of monetary policy. 00:05:19.008 --> 00:05:22.328 This order shall apply to the Board of Governors of the Federal Reserve 00:05:22.328 --> 00:05:26.278 System only in connection with its conduct and authorities directly 00:05:26.278 --> 00:05:30.168 related to its supervision and regulation of financial institutions.”. 00:05:30.914 --> 00:05:34.104 (b) The Director of the Office of Management and Budget (OMB) shall 00:05:34.104 --> 00:05:37.924 provide guidance on implementation of this order to the heads of executive 00:05:37.924 --> 00:05:41.644 departments and agencies newly submitting regulatory actions under 00:05:41.644 --> 00:05:45.174 section 3(b) of Executive Order 12866. 00:05:45.744 --> 00:05:49.454 Agency submissions by independent regulatory agencies under such 00:05:49.454 --> 00:05:52.784 section shall commence within the earlier of 60 days from the 00:05:52.784 --> 00:05:56.664 date of this order, or completion of such implementation guidance. 00:05:57.276 --> 00:05:57.736 Sec. 00:05:58.346 --> 00:05:58.696 4. 00:05:59.236 --> 00:06:01.656 Performance Standards and Management Objectives. 00:06:02.306 --> 00:06:05.826 The Director of OMB shall establish performance standards and management 00:06:05.826 --> 00:06:10.096 objectives for independent agency heads, as appropriate and consistent 00:06:10.096 --> 00:06:13.786 with applicable law, and report periodically to the President on 00:06:13.786 --> 00:06:17.706 their performance and efficiency in attaining such standards and objectives. 00:06:18.372 --> 00:06:18.822 Sec. 00:06:19.212 --> 00:06:19.622 5. 00:06:20.232 --> 00:06:23.122 Apportionments for Independent Regulatory Agencies. 00:06:23.792 --> 00:06:26.892 The Director of OMB shall, on an ongoing basis: 00:06:27.660 --> 00:06:31.060 (a) review independent regulatory agencies’ obligations for 00:06:31.060 --> 00:06:34.610 consistency with the President’s policies and priorities; and 00:06:35.405 --> 00:06:39.405 (b) consult with independent regulatory agency chairmen and adjust such 00:06:39.445 --> 00:06:44.085 agencies’ apportionments by activity, function, project, or object, as 00:06:44.085 --> 00:06:48.565 necessary and appropriate, to advance the President’s policies and priorities. 00:06:48.995 --> 00:06:52.585 Such adjustments to apportionments may prohibit independent regulatory 00:06:52.585 --> 00:06:57.085 agencies from expending appropriations on particular activities, functions, 00:06:57.205 --> 00:07:01.645 projects, or objects, so long as such restrictions are consistent with law. 00:07:02.339 --> 00:07:02.819 Sec. 00:07:03.259 --> 00:07:03.739 6. 00:07:04.379 --> 00:07:07.619 Additional Consultation with the Executive Office of the President. 00:07:08.229 --> 00:07:12.239 (a) Subject to subsection (b), independent regulatory agency chairmen 00:07:12.239 --> 00:07:15.849 shall regularly consult with and coordinate policies and priorities 00:07:15.849 --> 00:07:20.299 with the directors of OMB, the White House Domestic Policy Council, and the 00:07:20.299 --> 00:07:22.519 White House National Economic Council. 00:07:23.298 --> 00:07:26.808 (b) The heads of independent regulatory agencies shall establish 00:07:26.808 --> 00:07:30.338 a position of White House Liaison in their respective agencies. 00:07:30.798 --> 00:07:35.058 Such position shall be in grade 15 of the General Schedule and shall be placed 00:07:35.058 --> 00:07:37.318 in Schedule C of the excepted service. 00:07:37.970 --> 00:07:42.360 (c) Independent regulatory agency chairmen shall submit agency strategic 00:07:42.360 --> 00:07:45.750 plans developed pursuant to the Government Performance and Results 00:07:45.790 --> 00:07:50.440 Act of 1993 to the Director of OMB for clearance prior to finalization. 00:07:51.192 --> 00:07:51.652 Sec. 00:07:52.122 --> 00:07:52.572 7. 00:07:53.172 --> 00:07:56.972 Rules of Conduct Guiding Federal Employees’ Interpretation of the Law. 00:07:57.652 --> 00:08:00.812 The President and the Attorney General, subject to the President’s 00:08:00.812 --> 00:08:04.672 supervision and control, shall provide authoritative interpretations 00:08:04.672 --> 00:08:06.472 of law for the executive branch. 00:08:07.172 --> 00:08:10.572 The President and the Attorney General’s opinions on questions of law 00:08:10.852 --> 00:08:14.492 are controlling on all employees in the conduct of their official duties. 00:08:14.932 --> 00:08:18.912 No employee of the executive branch acting in their official capacity may 00:08:18.912 --> 00:08:22.822 advance an interpretation of the law as the position of the United States 00:08:22.822 --> 00:08:26.522 that contravenes the President or the Attorney General’s opinion on a matter 00:08:26.522 --> 00:08:31.182 of law, including but not limited to the issuance of regulations, guidance, and 00:08:31.182 --> 00:08:35.802 positions advanced in litigation, unless authorized to do so by the President 00:08:35.922 --> 00:08:37.802 or in writing by the Attorney General. 00:08:38.516 --> 00:08:38.946 Sec. 00:08:39.466 --> 00:08:39.666 8. 00:08:40.066 --> 00:08:41.206 General Provisions. 00:08:41.796 --> 00:08:45.726 (a) If any provision of this order, or the application of any provision to 00:08:45.726 --> 00:08:50.676 any person or circumstance, is held to be invalid, the remainder of this order 00:08:50.706 --> 00:08:54.746 and the application of its provisions to any other persons or circumstances 00:08:54.816 --> 00:08:56.336 shall not be affected thereby. 00:08:57.142 --> 00:09:01.222 (b) Nothing in this order shall be construed to impair or otherwise affect: 00:09:01.970 --> 00:09:05.010 (i) the authority granted by law to an executive department, 00:09:05.130 --> 00:09:07.230 agency, or the head thereof; or 00:09:08.447 --> 00:09:11.357 (ii) the functions of the Director of the Office of Management and 00:09:11.357 --> 00:09:15.817 Budget relating to budgetary, administrative, or legislative proposals. 00:09:16.480 --> 00:09:20.800 (c) This order shall be implemented consistent with applicable law and subject 00:09:20.800 --> 00:09:22.870 to the availability of appropriations. 00:09:23.533 --> 00:09:28.033 (d) This order is not intended to, and does not, create any right or benefit, 00:09:28.143 --> 00:09:33.013 substantive or procedural, enforceable at law or in equity by any party against 00:09:33.013 --> 00:09:37.803 the United States, its departments, agencies, or entities, its officers, 00:09:37.883 --> 00:09:40.543 employees, or agents, or any other person. 00:09:41.240 --> 00:09:43.130 This concludes the presidential order. 00:09:43.842 --> 00:09:48.102 If your Credit union could use assistance with your exam, reach out to Mark Treichel 00:09:48.102 --> 00:09:50.692 on LinkedIn, or at mark Treichel dot com. 00:09:51.312 --> 00:09:53.932 This is Samantha Shares and we Thank you for listening.