The executive order doesn’t explicitly mention enforcement, but observers expect that the assertion of total authority over the agencies could sway their approach to policing bad actors.

President Donald Trump’s executive order grasping far greater control over independent federal agencies embraces a constitutionally questionable theory that presidents dating back to Ronald Reagan have considered – and ultimately rejected.

A sweeping executive order issued by President Donald Trump on Feb. 18 aims to bring the nation’s independent financial regulators under White House oversight, marking a shift in how the agencies have operated since their inception.

The order will require all independent federal agencies and executive branches to now submit draft regulations so they can be reviewed by the White House.

The Trump administration has taken another step to centralize the executive branch with a new order that “reins in independent agencies.” | The White House's latest executive order would give the president greater control over federal agencies typically shielded by cross-term leadership appointments and dismissal protections.

A new executive order gives President Donald Trump’s appointees more power over independent agencies, including how the Fed regulates banks. But monetary policy will remain under the central bank's full control.