FEDERALhearing transcript

House Committee Hearing on Financial Regulation and Economic Growth

Original title: MAKING A FINANCIAL CHOICE: MORE CAPITAL OR MORE GOVERNMENT CONTROL?

January 1, 2018

financial regulation Dodd-Frank Act economic policy banking capital requirements

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The Frame

What this does

This hearing serves as a formal record of legislative debate regarding potential changes to the , which dictates and oversight for financial institutions, directly impacting how banks operate and lend to consumers.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Financial Institutions

Banks and credit unions are subject to capital requirements and regulatory oversight mandated by the Dodd-Frank Act.

Consumers

Regulatory changes influence the availability of credit and the stability of the financial system.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

The House Committee on Financial Services held a hearing on July 12, 2016, to discuss the impact of federal financial regulations, specifically the , on the U.S. economy. Witnesses and committee members debated whether current regulatory frameworks hinder economic growth or provide necessary stability.

Key Facts

The hearing took place on July 12, 2016, in the Rayburn House Office Building.
The committee examined the tension between private capital requirements and government regulatory control.
Chairman Jeb Hensarling characterized the Dodd-Frank Act as a primary cause of slow economic recovery.
Six witnesses provided testimony, including representatives from the Cato Institute, Georgetown University Law Center, The Clearing House Association, Credit Union National Association, R Street Institute, and the Texas Bankers Association.
The committee received written statements and additional materials for the record from various organizations, including Americans for Financial Reform.
The hearing is documented as Serial No. 114-96 of the 114th Congress.

Frequently Asked Questions

What was the purpose of this hearing?

The hearing was held to evaluate the impact of federal financial regulations, particularly the , on the U.S. economy and to discuss the balance between and government oversight.

Who testified at the hearing?

Witnesses included John A. Allison (Cato Institute), Adam J. Levitin (Georgetown University), Jeremy Newell (The Clearing House Association), Jim Nussle (Credit Union National Association), Alex J. Pollock (R Street Institute), and Jim R. Purcell (Texas Bankers Association).

Why It Matters

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Regulatory Debate

The hearing highlights a clear ideological divide regarding the efficacy of the Dodd-Frank Act in the years following its implementation.

Dodd-Frank Act Jeb Hensarling

Connected Entities

personJohn A. Allison“Witness, former CEO of Cato Institute”Map →

personJeb Hensarling“Chairman of the House Committee on Financial Services”Map →

personJim Nussle“Witness, CEO of Credit Union National Association”Map →

personMaxine Waters“Ranking Member of the House Committee on Financial Services”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance60
How much this matters to a regular citizen
Controversy50
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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