Thursday, February 17, 2011
The Senate Banking Committee held a hearing today on Oversight of Dodd-Frank Implementation: A Progress Report by the Regulators at the Half-Year Mark. The witnesses were The Honorable Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System; The Honorable Sheila Bair, Chairman, Federal Deposit Insurance Corporation; The Honorable Mary Schapiro, Chairman, U.S. Securities and Exchange Commission; The Honorable Gary Gensler, Chairman, Commodity Futures Trading Commission; and Mr. John Walsh, Acting Comptroller of the Currency, Office of the Comptroller of the Currency. Their written testimony is posted on the Committee's website.
Yesterday Republican members of the Committee released a letter they sent to all federal financial regulators, asking them to slow down Dodd-Frank implementation.
“We are concerned that regulators are not allowing adequate time for meaningful public comment on their proposed rules,” the senators wrote. “We also believe that regulators are not conducting rigorous analyses of the costs and benefits of their rules and the effects those rules could have on the economy.”
InvNews, GOP zeroing in on fiduciary duty study.