Mr. Mark Sekula's Opening Statement during the Dodd-Frank Act: Impact on Small Business Hearing

On Thursday, June16, the House Small Business Committee Subcommittee on Economic Growth, Capital Access and Taxes held a hearing entitled The Dodd-Frank Act: Impact on Small Business Lending. The hearing took place in Room 2360 of the Rayburn House Office Building.

The hearing examined the regulatory structure of financial institutions, including the new provisions of the Dodd-Frank Act. The hearing will also examine the regulations being proposed to implement the Act that have the greatest impact on small financial institutions and on small business lending. Along with Dodd-Frank, many financial institutions are facing increasing pressure from federal regulators concerned about additional bank failures. This increased pressure has the potential to hamper small business lending since some regulators are taking a disproportionally stringent view of small business lending and loan performance. Witnesses will discuss the direct impact of the new law and offer solutions to minimize the burdens.

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