Chairman Johnson’s opening statement set the purpose of the hearing as an examination of the progress being made in the implementation of the Dodd/Frank Act.. The Committee received testimony from the principles and senior staff of the Treasury, Federal Reserve, FDIC and the Office of the Comptroller.

Each witness provided a statement of their accomplishments and reported significant progress in the promulgation of the required regulations. One witness claimed, it was”the beginning of the end” of the regulatory phase of Dodd/Frank.