The U.S. Chamber of Commerce, which has filed suit against the Department of Labor’s fiduciary rule, would welcome a best-interest standard for retirement fund advisors done in the “right way,” Chamber Center for Capital Markets Competitiveness President and CEO David Hirschmann said Thursday.

The right way would mean less onerous disclosures and protection from class-action law suits, Center Managing Director Alice Joe explained.

Their comments came during the chamber’s Capital Markets Summit in Washington, D.C.

At the conference, Senate Banking Chair Idaho Republican Mike Crapo said the Securities and Exchange Commission and the other independent financial overseers should follow President Donald Trump’s executive order to stop developing new regulations and to eliminate old ones even though they are not legally required to do so.

He predicted the banking committee will find small bipartisan bills quickly that can eventually lead to significant regulatory reforms. As he has said before, the Republican senator emphasized that making changes to the Dodd-Frank Act will require by-in by Democrats.

Crapo said financial regulatory reform is likely to wait until late this year or after next with tax reform getting the highest priority in Congress.

He called economic growth a key priority for the committee.

The only other Senate Banking Committee mMember to speak at the chamber event, Pennsylvania Republican Pat Toomey, said there is enormous opportunity for pro-growth tax reform, but opposition from Democrats could delay the process and make it more difficult.