Patrick McHenryChairman

Washington, June 28, 2012 - As the second anniversary of the signing of the 2,300-page Dodd-Frank Act arrives in July, the Financial Services Committee will hold hearings throughout the month examining the impact the law is having on the economy, jobs, housing and credit.

“When President Obama signed Dodd-Frank into law, he promised it would provide ‘certainty to everyone from bankers to farmers to business owners to consumers.’  That’s obviously not been the case at all,” said Financial Services Committee Chairman Spencer Bachus.  “The layers of red tape Dodd-Frank piles on our economy cause more uncertainty for American businesses and hinder their ability to grow and create jobs.”

On Thursday, Chairman Bachus released the committee’s schedule of upcoming hearings, including several hearings that will examine the effects of Dodd-Frank.

Tuesday, July 10:
The Subcommittee on Capital Markets and Government Sponsored Enterprises will hold a hearing on the impact the Dodd-Frank Act is having on job creators, credit and financial institution customers.  The hearing will take place at 10 a.m. in room 2128 Rayburn House Office Building.

Wednesday, July 11:
At 10 a.m., the Subcommittee on Financial Institutions and Consumer Credit will examine the Dodd-Frank Act’s effect on mortgage lending.  The hearing will take place at 10 a.m. in room 2128 Rayburn House Office Building.

Wednesday, July 18:
The Financial Services Committee will receive the semiannual “Monetary Policy Report to the Congress” from Federal Reserve Chairman Ben Bernanke at 10 a.m. in room 2128 Rayburn House Office Building.

Thursday, July 19:
At 10 a.m., the Subcommittee on Oversight and Investigations will review how Dodd-Frank Act regulations are affecting jobs and the economy.  The hearing will take place in room 2128 Rayburn House Office Building.

The Subcommittee on Financial Institutions and Consumer Credit will examine the Dodd-Frank Act’s impact on consumers with a hearing on the Consumer Financial Protection Bureau at 2 p.m. in room 2128 Rayburn House Office Building.


Friday, July 20:
The Subcommittee on Capital Markets and Government Sponsored Enterprises will discuss H.R. 2827 and the impact Dodd-Frank is having on municipal advisors during a hearing at 10 a.m. in room 2128 Rayburn House Office Building.

The Committee’s schedule remains tentative and will depend upon witness availability and other factors that may require changes.  Therefore, each meeting will become final only when the official notice is distributed.  Additional information about each hearing, as well as a list of witnesses, will be released at later dates.