The United States House of Representatives' Committee on Financial Services will hold a hearing today, March 2nd, on the effects of the Dodd-Frank Act on both small financial institutions and small businesses.
During the course of the development and passing of the Dodd-Frank financial reform legislation, there has been much concern about how the bill (designed following the Financial Crisis to prevent another from occuring) would affect community financial institutions and the small businesses that rely on them. Safeguards and regulation designed to tackle the actions of larger institutions may have consequences for smaller institutions, despite stipulations in the bill to prevent them.
The hearing will occur at 2 pm (Eastern Standard Time) in Washington, DC, and can be viewed live via webcast at this link.
Those testifying will include American Bankers Association President Albert C. Kelly, Jr., National Association of Federal Credit Unions President John Buckley, Independent Community Bankers of America President James MacPhee, and others. All pre-written testimony has been linked at the Hearing website, available here.
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