House Subcommittee To Focus On Dodd-Frank's Impact On Main Street
July 19, 2012
In view of the upcoming second anniversary of the passage of the Dodd-Frank Act, the House Subcommittee on Oversight and Investigations will hold a hearing on July 19 to examine the law's impact on families, communities and small businesses.
"The Dodd-Frank Act was supposed to rein in risky bets at the biggest Wall Street firms," says Rep. Randy Neugebauer, R-Texas, chairman of the subcommittee. "Instead, it's making it more difficult for community banks to make loans and more expensive for small companies to do business. Americans may think the Dodd-Frank Act doesn't directly concern them, but the truth is families across the country are feeling the effects of this massive law. This hearing will shine a light on how the consequences of this so-called Wall Street Reform Act have stretched all the way down to Main Street USA."
The hearing - which is titled "Who's In Your Wallet? Dodd-Frank's Impact on Families, Communities and Small Businesses" - will include testimony from G. Michael Flores, CEO of Bretton Woods Inc.; Jess Sharp, executive director of the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness; David Min, assistant professor of law at the University of California’s Irvine School of Law; and Deyanira Del Rio, chairwoman of the board of New York City’s Lower East Side People’s Federal Credit Union.