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News Now

Washington
House Fin. Serv. Committee to examine 4 years of Dodd-Frank
WASHINGTON (7/22/14)--The House Financial Services Committee will conduct a hearing Wednesday to examine specific provisions and the cumulative impact of the Dodd-Frank Act. Signed into law by on July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was a response to the financial crisis that began in 2008.

The Dodd-Frank Act created approximately 35 new rules that affect credit unions, according to the Credit Union National Association's analysis. Throughout the legislative process, CUNA worked to minimize the legislation's regulatory burden on credit unions, reminding lawmakers that credit unions did not cause the problems that the Dodd-Frank Act was intended to address.

The hearing, titled "Assessing the Impact of the Dodd-Frank Act Four Years Later," will explore such provisions as the Volcker Rule, Orderly Liquidation Authority and consumer financial protection.

The following witnesses will speak at the hearing:
  • Dale Wilson, chairman and president/CEO, First State Bank of San Diego;

  • Anthony Carfang, partner, Treasury Strategies Inc.;

  • Paul Kupiec, resident scholar, American Enterprise Institute; and

  • Thomas Deas, vice president/treasurer, FMC Corp., on behalf of the Coalition for Derivatives End-Users.
The hearing will start at 10 a.m. (ET) Wednesday in the Rayburn House Office Building.

The House Financial Services Committee also released a 97-page report Monday examining the impact Dodd-Frank Act. Use the resource link below to access the report.
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