The Oversight Subcommittee’s first Dodd-Frank hearing was intended to focus on estimates that the regulations necessary to implement the Act could cost as much as $2 billion over the next ten years.
The hearing recessed twice to accommodate the House schedule – each lasting 90 minutes – and disrupted the focus of the hearing. Instead of looking at cost issues, the hearing focused on the testimony of Republican Commodity Futures Trading Commissioner Jill Sommers. Somemrs said the regulatory process was being rushed and would not be productive.
