House committee to increase pressure for Dodd-Frank repeal in July

The House Financial Services Committee plans to spend much of July focusing on the Dodd-Frank financial reform law and what committee Republicans say are the law's burdensome regulations on companies and consumers.

"With this month marking the second anniversary of passage of the Dodd-Frank Act, the Financial Services Committee is focusing attention throughout July on the burdens this law's 2,300 pages and more than 400 new rules layer on American companies, financial markets and consumers," committee Republicans said this week.

"Supporters of Dodd-Frank sold it to the public as 'tough Wall Street reform,' but in reality its red tape hurts businesses and small-town banks far from Wall Street that had nothing to do with the 2008 financial crisis," they said.

The committee will hold at least two hearings on Dodd-Frank next week.

On Tuesday, the panel's subcommittee on Capital Markets and Government Sponsored Enterprises will hold a hearing on "The Impact of Dodd-Frank on Customers, Credit and Job Creators."

And on Wednesday, the subcommittee on Financial Institutions and Consumer Credit will hold a hearing on "The Impact of Dodd-Frank's Home Mortgage Reforms: Consumer and Market Perspectives."

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