On Thursday, June16 at 10:00 am, the House Small Business Committee Subcommittee on Economic Growth, Tax and Capital Access 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.

Opening Statement:

Chairman Joe Walsh (R-IL)

Witnesses and Testimony:

Thomas Boyle, Vice Chairman, State Bank of Countryside, LaGrange, IL

• Testifying on behalf of the American Bankers Association 
• Witness Disclosure 
• Testimony
   

Mark Sekula, Executive Vice President, Chief Lending Officer, Randolph-Brooks Federal Credit Union, San Antonio, TX

• Testifying on behalf of the National Association of Federal Credit Unions  
• Witness Disclosure 
• Testimony
   

William Daley, Legislation and Policy Director, Main Street Alliance, Washington, DC

• Witness Disclosure 
• Testimony
   

Greg Ohlendorf, President and CEO, First Community Bank and Trust, Beecher, IL

• Testifying on behalf of the Independent Community Bankers of America 
• Witness Disclosure 
• Testimony
   

Additional Items:

• Official Hearing Notice 
• Official Witness List 
• Hearing Memo 
• Hearing Video 
• Press Release