§250 Independence of Financial Regulatory Agencies

Summary

No U.S. official or agency can make certain financial regulators get approval, comments, or a review before those regulators send Congress their legislative recommendations, testimony, or comments. This rule only applies when those materials say they show the agency’s own views and do not necessarily reflect the President’s views. The covered regulators are the Securities and Exchange Commission; the Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation; the Comptroller of the Currency; the Director of the Office of Thrift Supervision; the Director of the Federal Housing Finance Agency; and the National Credit Union Administration.