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Wednesday, April 9, 2014

House of Representatives Reviews Regulatory Red Tape

The House of Representatives Financial Services Committee held a hearing yesterday to review the economic consequences of recent rulemaking, supervisory, and enforcement actions of the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration and the Office of the Comptroller of the Currency on consumers, community financial institutions, the U.S. economy, and our domestic job-creating businesses.

The hearing examined how federal financial regulatory agencies evaluate the costs and benefits to consumers of their regulatory, enforcement, and supervisory actions. It also explore whether products or services are no longer being offered to consumers because of agency actions and the steps federal regulators take to measure the impact on consumers if they no longer have access to specific products or services as a result of regulatory action.

Read the testimony.

The ABIA is actively working with the CFPB through its CFPB Task Force. Contact Deanne Marino if you would like to be involved.

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