Treasury Secretary Timothy Geithner offered a revealing insight into the Obama Administration’s attitude about regulations on Thursday when he testified before the Financial Services Committee.
After Oversight and Investigations Subcommittee Chairman Randy Neugebauer told the Secretary he is worried about the cumulative impact that the Dodd-Frank Act’s 400 regulations will have on… Read more »
Outside Washington, D.C., there is growing concern about the regulatory burden imposed by the Dodd-Frank Act and the harmful effect it will have on jobs.
Cynthia Richards, New Mexico’s Financial Institutions Division director, tells the Albuquerque Journal that the Dodd-Frank Act is “onerous,” “costly,” “confusing,” and “difficult to implement.”
“When we see this act fully implemented… Read more »
Today’s American Banker includes a dead-on piece about how the Dodd-Frank Act, with its 2,300 pages and more than 400 regulations, is “regulatory overkill” with unintended consequences that hurt consumers and the economy.
“It's a fool's mission for our government to try to micro-manage our financial system — and for all the lip-service paid to balancing regulation and markets,… Read more »
The Washington Post reports today on another failure of one of the Obama Administration’s foreclosure mitigation programs.
In an article headlined “HUD program to help struggling homeowners falling short,” the Post notes this is “the latest in a series of efforts that has left funds allocated by Congress unspent and has failed to help as many” borrowers as promised.
The Emergency… Read more »
NOTE: Today, the Capital Markets and Government Sponsored Enterprises Committee held a legislative hearing on H.R. 2940, and four additional proposals, aimed at promoting small business capital formation by removing government roadblocks.
By Rep. Kevin McCarthy
Special to Roll Call
Sept. 21, 2011, Midnight
Twenty-six years ago, I started a small business: a deli I creatively named… Read more »
Tomorrow, the Capital Markets and Government Sponsored Enterprises Subcommittee will hold a hearing on five proposals designed to help small businesses access the capital markets for the financing they need to grow their companies and hire more workers. This hearing continues the Full Committee’s ongoing efforts to promote small business capital formation and job creation.
One of the… Read more »
With a growing regulatory burden weighing our economy down, President Obama’s executive order #13563 issued in January was welcomed news. That executive order requires government agencies to conduct cost-benefit analyses to ensure that the benefits of any rulemaking outweigh the costs. It also requires that both new and existing regulations be accessible, consistent,… Read more »
The Financial Institutions and Consumer Credit Subcommittee met outside the Washington, D.C. beltway on Tuesday to ask community bankers and regulators if overly stringent federal bank examination standards are impeding an economic recovery.
Read more »
Promises are unfulfilled while the costs are real
By Rep. Sean Duffy
It was one year ago today that President Obama signed the so-called "Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010." Like other signature pieces of legislation of this administration, the name can be misleading. Like the so-called "stimulus" that stimulated nothing but more government debt, this… Read more »
