U.S. House Financial Services Subcommittee Holds Hearing to Examine Regulatory Burdens in Financial Sector

The U.S. House Financial Services Subcommittee on Financial Institutions and Consumer Credit held a hearing titled "Examining Regulatory Burdens - Regulator Perspective."

The hearing was intended to examine the impact of regulatory burdens on the operations of community financial institutions and the behavior of consumers in the financial marketplace. Additionally, the hearing investigated how federal financial agencies evaluate the costs and benefits to consumers and community financial institutions of the agencies' regulatory, enforcement and supervisory actions. The Subcommittee also explored "whether products or services are no longer being offered to consumers because of agency actions and the impact on consumers."

The following witnesses testified:

• Ms. Doreen Eberley, Director, Division of Risk Management Supervision, Federal Deposit Insurance Corporation (written testimony)
• Ms. Maryann Hunter, Deputy Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System (written testimony)
• Mr. Toney Bland, Senior Deputy Comptroller, Office of the Comptroller of Currency (written testimony)
• Mr. Larry Fazio, Director, Office of Examination and Insurance, National Credit Union Administration (written testimony)
• Mr. David Silberman, Associate Director, Office of Research, Markets and Regulations, Consumer Financial Protection Bureau (written testimony); and
• Mr. Charles G. Cooper, Commissioner, Texas Department of Banking, on behalf of the Conference of State Bank Supervisors (written testimony).

See: Hearing Memorandum; Press Release (with Webcast).