Director Cordray to testify before House Small Business Committee


[author: Barbara S. Mishkin]

In addition to general concerns about the CFPB’s impact on the consumer financial services industry, special concerns have been raised about how new CFPB regulatory requirements will impact small businesses. Dodd-Frank made the CFPB subject to the requirement in the Small Business Regulatory Enforcement Fairness Act (SBREFA) for a small business panel to be convened before issuing regulations that the CFPB director expects to have a significant impact on a substantial number of small business entities.

The CFPB’s compliance with SBREFA will be the subject of a hearing to be held tomorrow, August 1, at 1:00 p.m. by the House Committee on Small Business at which CFPB Director Richard Cordray is scheduled to testify. Taking its cue from the CFPB’s “Know Before You Owe” initiatives, the committee has titled the hearing “Know Before You Regulate: The Impact of CFPB Regulations on Small Business.” The committee will be focusing on the CFPB’s recent mortgage disclosure proposal.

The following link can be used to watch the hearing at the 1 p.m. start time:

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ballard Spahr LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.