Dodd-Frank Turns 15: Lessons Learned and the Road Ahead (EventID=118402)

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Connect with the House Financial Services Committee » Get the latest news: https://democrats-financialservices.house.gov/ » Follow us on Facebook: https://www.facebook.com/USHouseFSC » Follow us on Twitter: https://x.com/USHouseFSC » Follow us on Instagram: https://www.instagram.com/ushousefsc/ » Follow us on Bluesky: https://bsky.app/profile/ushousefsc.bsky.social ___________________________________ » Subscribe: https://www.youtube.com/@USHouseFSC?sub_confirmation=1 ___________________________________ On Tuesday, June 24, 2025, at 10:00 a.m. (ET) full Committee Chairman Hill and Ranking Member Waters will host a hearing entitled, “Dodd-Frank Turns 15: Lessons Learned and the Road Ahead." ___________________________________ Witness for this one-panel hearing will be: • Hon. Ken Bentsen, President and CEO, Securities Industry and Financial Markets Association • Mrs. Lindsey Johnson, President and CEO, Consumer Bankers Association • Mr. Tom Quaadman, Chief of Government Affairs and Public Policy, Investment Company Institute • Dr. Paul H. Kupiec, Senior Fellow, American Enterprise Institute • Mr. Dennis Kelleher, Co-founder, President, and Chief Executive Officer, Better Markets ___________________________________ The hearing will evaluate the real-world impact and unintended consequences of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), which passed 15 years ago in the wake of the financial crisis. It will critically examine the expansive regulatory bureaucracy created by the law, including the Consumer Financial Protection Bureau (CFPB), the Financial Stability Oversight Council (FSOC), the Office of Financial Research (OFR), and the Federal Reserve’s Vice Chair for Supervision position. The hearing will also focus on the regulatory reach of Dodd-Frank and the authorities granted to the Securities and Exchange Commission (SEC). Legislation Noticed 1. H.R. ___, the Small Lenders Exempt from New Data and Excessive Reporting (LENDER) Act (Hill): This discussion draft exempts certain financial institutions from the requirements of the Consumer Financial Protection Bureau’s (CFPB) Small Business Lending Rule (pursuant to Section 1071 of the Dodd-Frank Act). The bill would ensure the 1071 rule is voluntary by enshrining a small business loan applicant’s “right to refuse”, eliminate several required data points, ban financial institutions from using visual observation to collect data from an applicant, and prohibit the CFPB from using a financial institution’s low response rate to indicate a failure to comply. 2. H.R. 654, the Taking Account of Bureaucrats’ Spending (TABS) Act of 2025 (Barr): This bill transforms the CFPB into an independent agency named the Consumer Financial Empowerment Agency and would transition the agency to the regular appropriations process. 3. H.R. 3445, the Consumer Financial Protection Commission Act (Huizenga): This bill transforms the CFPB into a five-member, bipartisan commission, appointed by the President and confirmed by the Senate, with at least two members required to have private sector experience in the provision of consumer financial products and services. 4. H.R. 2885, the Bank Loan Privacy Act (Rose): This bill requires the CFPB to clarify, through a notice-and-comment rulemaking, the way information collected under the CFPB’s Small Business Lending Rule (pursuant to Section 1071 of the Dodd-Frank Act) will be published. Specifically, this bill would require the CFPB to issue a rule prior to deleting or modifying publicly available small business loan data due to privacy concerns, describe the intended modifications and deletions, and explain how such modifications and deletions will advance a privacy interest. 5. H.R. 2513, the CFPB–IG Reform Act of 2025 (Meuser): This bill establishes an Inspector General solely for the CFPB and separate from the Inspector General of the Board of Governors of the Federal Reserve System. This bill would require the CFPB Inspector General (CFPB-IG) to testify semiannually before the House Financial Services Committee and Senate Banking Committee. This bill would grant the CFPB-IG participation in the Council of Inspectors General on Financial Oversight. Additionally, the bill would require the President to appoint the CFPBIG within 60 days of enactment. 6. H.R. 2183, the CFPB Dual Mandate and Economic Analysis Act (Emmer): This bill revises the purpose of the CFPB to include “strengthening private sector participation in markets, without government interference or subsidies, to increase competition and enhance consumer choice.” This bill would require the CFPB to establish an Office of... ___________________________________ #federalreserve #doddfrank #fdic #cfpb #occ #financialservices #regulation #sec #securities #securitiesandexchangecommission #fsoc #ofr ___________________________________ Hearing page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=413561