FEDERALhearing transcript

Hearing on Federal Financial Regulatory Efficiency

Original title: LEGISLATIVE PROPOSALS FOR A MORE EFFICIENT FEDERAL FINANCIAL REGULATORY REGIME

January 1, 2018

financial regulation banking consumer protection regulatory efficiency

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The Frame

What this does

The hearing serves as a formal record of testimony that may influence future legislation aimed at modifying the regulatory burden on financial institutions and the scope of consumer financial protections.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Financial Institutions

These entities are subject to the federal financial regulations discussed in the proposed legislation.

Consumers

Consumers are impacted by the regulatory framework governing financial products and services.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

This document is a transcript record of a September 7, 2017, House hearing regarding proposals to change how federal financial regulations are implemented and enforced. The hearing featured testimony from legal experts, banking industry representatives, and consumer advocacy groups.

Key Facts

The hearing took place on September 7, 2017, before the Subcommittee on Financial Institutions and Consumer Credit.
The session focused on legislative proposals intended to increase the efficiency of the federal financial regulatory regime.
Four primary witnesses provided testimony: Anne P. Fortney, Thomas Quaadman, Charles T. Tuggle, Jr., and Chi Chi Wu.
The record includes written statements from various industry groups, including the American Bankers Association and the Credit Union National Association.
The record includes written statements from various consumer advocacy groups, including the National Consumer Law Center, Americans for Financial Reform, and U.S. PIRG.
Additional materials submitted for the record include articles regarding title company practices, mortgage rate hikes, and the Equifax data breach.

Why It Matters

Frequently Asked Questions

What was the purpose of this hearing?

The hearing was held to discuss legislative proposals aimed at making the federal financial regulatory system more efficient.

Who testified at the hearing?

The witnesses included Anne P. Fortney (Hudson Cook, LLP), Thomas Quaadman (U.S. Chamber of Commerce), Charles T. Tuggle, Jr. (American Bankers Association), and Chi Chi Wu (National Consumer Law Center).

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

cross reference100% confidence

Inclusion of Equifax Breach

The hearing record includes materials related to the Equifax data breach, indicating that the event was a point of concern during the 2017 legislative session.

Equifax

Connected Entities

personChi Chi Wu“Witness representing the National Consumer Law Center.”Map →

personAnne P. Fortney“Witness and Partner Emerita at Hudson Cook, LLP.”Map →

organizationSubcommittee on Financial Institutions and Consumer Credit“The congressional body that held the hearing.”Map →

personBlaine Luetkemeyer“Chairman of the Subcommittee.”Map →

personThomas Quaadman“Witness representing the U.S. Chamber of Commerce.”Map →

personCharles T. Tuggle, Jr.“Witness representing the American Bankers Association.”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance40
How much this matters to a regular citizen
Controversy50
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz15
Current news / social attention level

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