For the first time in 2017, the Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing to discuss Dodd-Frank and the impact it has had on financial institutions. The June 8th hearing is entitled Fostering Economic Growth: The Role of Financial Institutions in Local Communities.” 

The witnesses will be Dorothy A. Savarese, Chairman, President & CEO, The Cape Cod Five Cents Savings Bank, on behalf of the American Bankers Association; Steve Grooms, President & CEO, 1st Liberty Federal Credit Union, on behalf of the National Association of Federally-insured Credit Unions; R. Scott Heitkamp, President & CEO, ValueBank, on behalf of the Independent Community Bankers of America; Dallas Bergl, CEO, INOVA Federal Credit Union, on behalf of the Credit Union National Association; John Bissel, President & CEO, Greylock Federal Credit Union; and Adam Levitin, Professor of Law, Georgetown University Law Center.

The House of Representatives is scheduled to vote on the Financial CHOICE Act next week and send it to the Senate. It will likely be a party-line vote in the House and has little chance of passing in the Senate in its current form.