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Pros and Cons: Fewer Regulations in the U.S.

One of the current administration’s persistent themes has been deregulation — cutting through the red tape in the rules of doing business. In one instance, Donald Trump was filmed standing beside mounds of paperwork to symbolize the amount of regulation the government has implemented since 1960.1

Perhaps the same can be said for the paperwork associated with our financial accounts, from bank statements to investment prospectuses to insurance policies. It’s important to recognize regulations often have two goals: To protect the consumer, and to protect the company providing the product or service.

We understand that sometimes the paperwork associated with your investments and insurance policies can be overwhelming, so please don’t hesitate to ask questions. We are here to help you fully understand your financial choices.

One such controversial regulation — currently being debated in Congress — is a rollback of the Dodd-Frank Act that was passed in 2010 to tighten rules on the banking system. Now that the economy has recovered from the recession, many legislators are in favor of loosening the banking rules, especially those affecting small community banks. Those who oppose reducing regulations fear the country will fall into the same bad practices and history will repeat itself. 2

Some regulations are so imbedded in our society that the affected industries now believe repealing them could cause more problems than keeping them. The most recent example was the EPA’s announcement to roll back emission standards for U.S. cars. However, the initiative has fallen flat with at least one auto manufacturer, stating it plans to implement the vehicle-emissions rules enacted under Barack Obama to continue addressing global warming considerations. Others think rolling back these regulations would increase their costs, especially if California implements its own emissions standards, which could lead to court battles.3

U.S. farmers are closely watching some of the regulations that have added extensive costs and delays to their businesses. They’re particularly interested in the Waters of the U.S. rule, although the EPA has postponed that rollback for two years. However, the Secretary of Agriculture announced that the USDA has identified 27 final rules that it plans to eliminate, saving $56 million per year.4

Content prepared by Kara Stefan Communications.

1 Michael Kranz. Business Insider. Dec. 17, 2017. “Trump cut literal red tape while standing next to a massive pile of paper to make a point about big government.” http://www.businessinsider.com/trump-stood-next-to-a-huge-pile-of-paper-showing-big-government-2017-12. Accessed April 27, 2018.

Sylvan Lane. The Hill. April 26, 2018. “House chairman eases demands on Dodd-Frank rollback.” http://thehill.com/business-a-lobbying/385066-house-chairman-eases-demands-on-dodd-frank-rollback. Accessed April 27, 2018.

Justin Worland. Time. April 5, 2018. “Scott Pruitt’s Rollback of Emissions Standards Is a Big Deal. Here’s Why the Rollout Fell Flat.” http://time.com/5228979/why-scott-pruitt-rollback-of-emissions-standards-fell-flat/. Accessed April 27, 2018.

4 Jacqui Fatka. Farm Futures. March 1, 2018. “Trump keeping regulatory rollback promises.” http://www.farmfutures.com/farm-policy/trump-keeping-regulatory-rollback-promises. Accessed April 27, 2018.

We are an independent firm helping individuals create retirement strategies using a variety of insurance and investment products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic financial planning strategies and should not be construed as financial advice. All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. 

The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.


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Ryan Keapproth

Ryan Keapproth

Retirement Planner

Ryan is dedicated to serving clients to achieve their retirement goals. Ryan’s holistic approach centers on wealth management strategies with a focus on income planning throughout retirement. As a Financial Advisor, Ryan is an Investment Adviser Representative (IAR), life and health insurance licensed and a Certified Tax Preparer. Ryan is a graduate of the University of Minnesota, with an Accounting and Finance major.

Ryan is a lifelong Minnesotan originally from Woodbury and currently residing in Bloomington with his wife, Riamae, and their rescue Terrier Beagle mix, Douglas. He and his family are avid travelers in their free time. Ryan enjoys playing golf and poker, and describes himself as a major foodie enjoying new restaurants around the cities whenever possible. He is a sports fan especially when the Vikings and Timberwolves are playing.