At least three hearings on Capitol Hill should grab the attention of the housing industry.
The House Financial Services Oversight and Investigations Subcommittee will hold a hearing entitled “The Dodd-Frank Act and Regulatory Overreach” on May 13, 2015, at 9:30 a.m. E.T.
Witnesses include Paul G. Mahoney, Dean and Professor of Law, University of Virginia School of Law; Hester Peirce, Director of Financial Markets Working Group and Senior Research Fellow, Mercatus Center; and Marcus Stanley, Policy Director, Americans for Financial Reform.
This hearing will examine a major assumption underlying the Dodd-Frank Wall Street Reform and Consumer Protection Act—that the primary cause of the financial crisis was misbehavior by securities market participants, exacerbated by lax regulatory oversight.
The hearing will also examine the advisability and efficacy of overhauling financial regulations, as was done in the Dodd-Frank Act, in the immediate aftermath of a financial crisis. ?
Later Wednesday, the Subcommittee on Capital Markets and Government Sponsored Enterprises will hold a hearing entitled “Legislative Proposals to Enhance Capital Formation and Reduce Regulatory Burdens, Part II” at 2:00 p.m. E.T.
Witnesses for this hearing include Ronald Kruszewski, Chairman and CEO, Stifel Financial Corp., on behalf of the Securities Industry and Financial Markets Association; David Burton, Senior Fellow, Economic Policy, The Heritage Foundation; Mercer Bullard, MDLA Distinguished Lecturer and Professor of Law, University of ?Mississippi School of Law; Tom Quaadman, Vice President, Center for Capital Markets Competitiveness, U.S. ?Chamber of Commerce; and David Weild, Chairman & CEO, Weild & Co.
This is part two of the hearing as the subcommittee continues its survey to identify legal, regulatory and market impediments to capital formation, particularly for small and medium-capitalized companies.
On Thursday, the Housing and Insurance subcommittee will hold a hearing entitled “TILA-RESPA Integrated Disclosure: Examining the Costs and Benefits of Changes to the Real Estate Settlement Process.” Details and witnesses have not been made public as of this writing.