DOCSLIB.ORG

Assessing the Impact of the Dodd–Frank Act Four Years Later

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Assessing the Impact of the Dodd–Frank Act Four Years Later ASSESSING THE IMPACT OF THE DODD–FRANK ACT FOUR YEARS LATER HEARING BEFORE THE COMMITTEE ON FINANCIAL SERVICES U.S. HOUSE OF REPRESENTATIVES ONE HUNDRED THIRTEENTH CONGRESS SECOND SESSION JULY 23, 2014 Printed for the use of the Committee on Financial Services Serial No. 113–94 ( U.S. GOVERNMENT PUBLISHING OFFICE 91–158 PDF WASHINGTON : 2015 For sale by the Superintendent of Documents, U.S. Government Publishing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate Nov 24 2008 18:50 Jun 05, 2015 Jkt 091158 PO 00000 Frm 00001 Fmt 5011 Sfmt 5011 K:\DOCS\91158.TXT TERRI HOUSE COMMITTEE ON FINANCIAL SERVICES JEB HENSARLING, Texas, Chairman GARY G. MILLER, California, Vice Chairman MAXINE WATERS, California, Ranking SPENCER BACHUS, Alabama, Chairman Member Emeritus CAROLYN B. MALONEY, New York PETER T. KING, New York NYDIA M. VELA´ ZQUEZ, New York EDWARD R. ROYCE, California BRAD SHERMAN, California FRANK D. LUCAS, Oklahoma GREGORY W. MEEKS, New York SHELLEY MOORE CAPITO, West Virginia MICHAEL E. CAPUANO, Massachusetts SCOTT GARRETT, New Jersey RUBE´ N HINOJOSA, Texas RANDY NEUGEBAUER, Texas WM. LACY CLAY, Missouri PATRICK T. MCHENRY, North Carolina CAROLYN MCCARTHY, New York JOHN CAMPBELL, California STEPHEN F. LYNCH, Massachusetts MICHELE BACHMANN, Minnesota DAVID SCOTT, Georgia KEVIN McCARTHY, California AL GREEN, Texas STEVAN PEARCE, New Mexico EMANUEL CLEAVER, Missouri BILL POSEY, Florida GWEN MOORE, Wisconsin MICHAEL G. FITZPATRICK, Pennsylvania KEITH ELLISON, Minnesota LYNN A. WESTMORELAND, Georgia ED PERLMUTTER, Colorado BLAINE LUETKEMEYER, Missouri JAMES A. HIMES, Connecticut BILL HUIZENGA, Michigan GARY C. PETERS, Michigan SEAN P. DUFFY, Wisconsin JOHN C. CARNEY, JR., Delaware ROBERT HURT, Virginia TERRI A. SEWELL, Alabama STEVE STIVERS, Ohio BILL FOSTER, Illinois STEPHEN LEE FINCHER, Tennessee DANIEL T. KILDEE, Michigan MARLIN A. STUTZMAN, Indiana PATRICK MURPHY, Florida MICK MULVANEY, South Carolina JOHN K. DELANEY, Maryland RANDY HULTGREN, Illinois KYRSTEN SINEMA, Arizona DENNIS A. ROSS, Florida JOYCE BEATTY, Ohio ROBERT PITTENGER, North Carolina DENNY HECK, Washington ANN WAGNER, Missouri STEVEN HORSFORD, Nevada ANDY BARR, Kentucky TOM COTTON, Arkansas KEITH J. ROTHFUS, Pennsylvania LUKE MESSER, Indiana SHANNON MCGAHN, Staff Director JAMES H. CLINGER, Chief Counsel (II) VerDate Nov 24 2008 18:50 Jun 05, 2015 Jkt 091158 PO 00000 Frm 00002 Fmt 5904 Sfmt 5904 K:\DOCS\91158.TXT TERRI C O N T E N T S Page Hearing held on: July 23, 2014 ..................................................................................................... 1 Appendix: July 23, 2014 ..................................................................................................... 79 WITNESSES WEDNESDAY, JULY 23, 2014 Carfang, Anthony J., Partner, Treasury Strategies, Inc. ..................................... 10 Deas, Thomas C., Jr., Vice President and Treasurer, FMC Corporation, on behalf of the Coalition for Derivatives End-Users ............................................ 14 Frank, Hon. Barney, former Member of Congress and former Chairman, House Committee on Financial Services ............................................................ 12 Kupiec, Paul H., Resident Scholar, the American Enterprise Institute ............. 16 Wilson, Dale, Chairman and Chief Executive Officer, First State Bank, on behalf of the Texas Bankers Association ........................................................... 9 APPENDIX Prepared statements: Carfang, Anthony J. ......................................................................................... 80 Deas, Thomas C., Jr. ........................................................................................ 91 Frank, Hon. Barney .......................................................................................... 97 Kupiec, Paul H. ................................................................................................. 105 Wilson, Dale ...................................................................................................... 141 ADDITIONAL MATERIAL SUBMITTED FOR THE RECORD Hensarling, Hon. Jeb: Written statement of the National Association of REALTORS® ................. 148 Capito, Hon. Shelley Moore: ‘‘Impact of Federal Mortgage Rules on West Virginia’s Families’’ ............... 150 Hurt, Hon. Robert: Written statement of Mosaic Collateral Asset Management ........................ 153 Perlmutter, Hon. Ed: Wall Street Journal article entitled, ‘‘Wall Street Adapts to New Regu- latory Regime,’’ dated July 21, 2014 ........................................................... 163 (III) VerDate Nov 24 2008 18:50 Jun 05, 2015 Jkt 091158 PO 00000 Frm 00003 Fmt 5904 Sfmt 5904 K:\DOCS\91158.TXT TERRI VerDate Nov 24 2008 18:50 Jun 05, 2015 Jkt 091158 PO 00000 Frm 00004 Fmt 5904 Sfmt 5904 K:\DOCS\91158.TXT TERRI ASSESSING THE IMPACT OF THE DODD–FRANK ACT FOUR YEARS LATER Wednesday, July 23, 2014 U.S. HOUSE OF REPRESENTATIVES, COMMITTEE ON FINANCIAL SERVICES, Washington, D.C. The committee met, pursuant to notice, at 10 a.m., in room 2128, Rayburn House Office Building, Hon. Jeb Hensarling [chairman of the committee] presiding. Members present: Representatives Hensarling, Royce, Lucas, Capito, Garrett, Neugebauer, McHenry, Bachmann, Pearce, Posey, Fitzpatrick, Westmoreland, Luetkemeyer, Huizenga, Duffy, Hurt, Stivers, Stutzman, Mulvaney, Hultgren, Ross, Pittenger, Wagner, Barr, Cotton, Rothfus, Messer; Waters, Maloney, Velazquez, Sher- man, Meeks, Capuano, Hinojosa, Clay, McCarthy of New York, Lynch, Scott, Green, Cleaver, Moore, Ellison, Perlmutter, Himes, Carney, Sewell, Foster, Kildee, Delaney, Sinema, Beatty, and Horsford. Chairman HENSARLING. The committee will come to order. Without objection, the Chair is authorized to declare a recess of the committee at any time. This hearing occurs 2 days after the fourth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Today, we will examine its impact on our capital markets and the American economy and our citizens more generally. I now rec- ognize myself for 41⁄2 minutes for an opening statement. Dodd-Frank has always been based upon a false premise that somehow deregulation or lack of regulation led us into the crisis. However, in the decade leading up to the crisis, studies have shown that the regulatory burden on the financial services industry actu- ally increased. There were few industries that were more highly regulated: FDICIA, FIRREA, Sarbanes-Oxley, the list goes on. We hear a lot about Wall Street greed. I could not agree more. I am just curious at what point was there not greed on Wall Street. So I am won- dering how that could necessarily be the determining factor. What I do know is that affordable housing goals of Fannie Mae and Freddie Mac on steroids and other policies helped incent, ca- jole, and mandate financial institutions into loaning money to peo- ple to buy homes who ultimately could not afford to keep them. My Democratic colleagues at the time said, ‘‘Let’s roll the dice on housing.’’ They did. And the economy imploded. It wasn’t deregula- tion. It was bad regulation that helped lead us into this crisis. (1) VerDate Nov 24 2008 18:50 Jun 05, 2015 Jkt 091158 PO 00000 Frm 00005 Fmt 6633 Sfmt 6633 K:\DOCS\91158.TXT TERRI 2 And so, if you get the wrong diagnosis, you get the wrong rem- edy. Dodd-Frank has been the wrong remedy, adding incomprehen- sible complexity to incomprehensible complexity. Now, frequently in Washington—I say frequently, but regret- tably, it is the rule as opposed to the exception—laws are evaluated by their advertised benefits, not by their actual benefits or actual cost. So at the time Dodd-Frank was passed, we were told it would ‘‘lift the economy,’’ ‘‘end too-big-to-fail,’’ ‘‘end bailouts,’’ ‘‘increase fi- nancial stability,’’ and, ‘‘increase investment and entrepreneur- ship.’’ And instead, what have we learned? We have learned that it is now official that we are in the slowest, weakest recovery in the his- tory of the Nation: tens of millions of our countrymen are now un- employed or underemployed; there has been negative economic growth in the last quarter; business startups are at a 20-year low; and 1 out of 7 people are dependent upon food stamps. Again, increasing entrepreneurship, I don’t think so. Ending too- big-to-fail, we have had this debate before. We had it yesterday. We will have it today. We will have it tomorrow. Dodd-Frank codified too-big-to-fail into law, and it is now demonstrable 4 years later that the big banks have gotten bigger and the small banks have gotten fewer. Financial stability, I suppose that is a debatable proposition. Fi- nancial stability is now defined by the unelected and unaccountable bureaucrats. I don’t know if you increase concentration, though, in our larger financial institutions, whether one can say we have achieved finan- cial stability. But what I do know is that it comes at an incredible cost. Thanks to Dodd-Frank, it is now harder for low- and moderate- income Americans to buy a home. Again, thanks to Dodd-Frank, there are fewer community banks serving the needs of small busi- nesses and families. Thanks to Dodd-Frank, Main Street businesses and farmers faced higher costs in managing their risk and producing their prod- ucts, which is impacting every single American at their kitchen table. Thanks to Dodd-Frank’s Volcker Rule, our capital markets are less liquid than before, making it more expensive for
Load more

Recommended publications
  • U.S. Senator Jacky Rosen Privacy Release Form
    U.S. Senator Jacky Rosen Privacy Release Form The Privacy Act of 1974 is a federal law designed to protect you from any unauthorized use and exchange of personal information by federal agencies. Any information that a federal agency has on file regarding your dealings with the United States government may not, with a few exceptions, be given to another agency or Member of Congress without your written permission. To Whom It May Concern: I hereby request the assistance of the Office of United States Senator Jacky Rosen to resolve the matter described on the next page(s). I authorize Senator Jacky Rosen and her staff to receive any information they may need to provide this assistance. The information I have provided to Senator Jacky Rosen is true and accurate to the best of my knowledge and belief. The assistance I have requested from Senator Rosen’s office is in no way an attempt to evade or violate any federal, state, or local law. Signature: ____________________________________________________________ Date: ____/____/____ CONTACT INFORMATION (PLEASE PRONT) Ƽ Mr. Ƽ Mrs. Ƽ Ms. Ƽ Dr. Full Name: _______________________________________________________________________________ Address: _________________________________________________________________________________ City: _____________________________________ Zip Code: ________________________________ Date of Birth: ____/____/____ Cell Phone: _______________________________ Social Security Number: ____-____-____ Home Phone: _____________________________ Email Address: ____________________________
    [Show full text]
  • TO: Interested Parties FR: Dan Sena, DCCC Executive Director DT: April 3, 2018 RE: Take It Back: Democrats Have Clear Advantage in New District Polls
    TO: Interested Parties FR: Dan Sena, DCCC Executive Director DT: April 3, 2018 RE: Take it Back: Democrats Have Clear Advantage in New District Polls It’s game time. Month by month, week by week, primaries will produce battle-tested and uniquely qualified Democratic candidates. And vulnerable House Republicans will be forced to face reality: According to a sample of newly released polling data from a wide variety of districts, Democrats are poised to take back the House. Since the start of the cycle, the grassroots backlash against the Republican agenda has been fierce. Each day since, President Trump and Speaker Ryan’s Congress have given voters motivation to organize, fight, and win. Voters are fighting to take back respect, stability, affordable healthcare, economic security, and a safe and stable future for both their parents and their children. While motivations vary, the American people will keep marching, protesting and ultimately voting to take back the House. The DCCC has built the largest battlefield in modern history – over 100 districts and counting. We invested in the grassroots, local organizers, and robust voter contact earlier than ever before. Most importantly, we recruited and empowered Democratic candidates who fit their districts and have records of service to their communities and our country that resonate with voters. These Democrats are running deep into the battlefield, and their candidacies are breathing new energy into the party. These Democrats’ strength as campaigners matches their inspiring work and life stories. They’ve stood shoulder to shoulder with key progressive groups to sharpen the backlash against Republicans for their destructive agenda, particularly the healthcare repeal effort and tax scam that benefits the rich and big corporations instead of middle class Americans.
    [Show full text]
  • Download the Transcript
    BOOK-2020/02/24 1 THE BROOKINGS INSTITUTION FALK AUDITORIUM CODE RED: A BOOK EVENT WITH E.J. DIONNE JR. Washington, D.C. Monday, February 24, 2020 Conversation: E.J. DIONNE JR., W. Averell Harriman Chair and Senior Fellow, Governance Studies, The Brookings Institution ALEXANDRA PETRI Columnist The Washington Post * * * * * ANDERSON COURT REPORTING 1800 Diagonal Road, Suite 600 Alexandria, VA 22314 Phone (703) 519-7180 Fax (703) 519-7190 BOOK-2020/02/24 2 P R O C E E D I N G S MR. DIONNE: I want to welcome everybody here today. I’m E.J. Dionne. I’m a senior fellow here at Brookings. The views I am about to express are my own. I don’t want people here necessarily to hang on my views. There are so many people here. First, I want to thank Amber Hurley and Leti Davalos for organizing this event. I want to thank my agent, Gail Ross, for being here. You have probably already seen one of the 10,500,000 Mike Bloomberg ads; you know the tagline is “Mike Gets it Done.” No. Gail gets it done (laughter), so thank you for being here. One unusual person I want to -- also, another great book that you have to read, my friend, Melissa Rogers, who’s a visiting scholar here, we worked together for 20 years, her book, “Faith in American Public Life,” which has a nice double meaning, is a great book to read. And, I can't resist honoring my retired Dr. Mark Shepherd who came here today.
    [Show full text]
  • Congressional Record—House H9262
    H9262 CONGRESSIONAL RECORD — HOUSE October 7, 2003 perfect movie Hollywood couple that America’s last half century, to have land Athletics and she passed away in her just loved each other and did not mind raised three wonderful sons and two sleep. expressing that love in front of every- outstanding daughters. Tommy, who I Millie O’Neill was an incredible woman who body. met at Boston College; Susan, who was was not often recognized for the selfless work I had the opportunity for 12 consecu- my classmate and a history major with she did for Congress and our country. Mr. tive years to travel with Tip O’Neill as me at Boston College. I have known Speaker, I want to call attention to two things he was invited around the world as them my whole life. that Mrs. O’Neill was instrumental in achiev- Speaker; but I do not know whether it This is a wonderful family, and they ing. The first was a massive fundraising effort was Tip or Millie, but one thing was balanced the demands of that journey on behalf of the Ford’s Theatre Foundation, abundantly clear, that they were not against the love and attention that a raising over $4 million dollars, for which Millie Democratic trips. They were not Re- family requires. And Millie emerged was recognized at a Gala dinner in 1984. publican trips. It was traveling with from it all with her love for Tip as The second item that I believe Mrs. O’Neill Millie and Tip O’Neill, and they made strong and as deep and as transparent deserves to be recognized for was ensuring everyone feel like just one big congres- as the two schoolkids they once were.
    [Show full text]
  • August 10, 2021 the Honorable Nancy Pelosi the Honorable Steny
    August 10, 2021 The Honorable Nancy Pelosi The Honorable Steny Hoyer Speaker Majority Leader U.S. House of Representatives U.S. House of Representatives Washington, D.C. 20515 Washington, D.C. 20515 Dear Speaker Pelosi and Leader Hoyer, As we advance legislation to rebuild and renew America’s infrastructure, we encourage you to continue your commitment to combating the climate crisis by including critical clean energy, energy efficiency, and clean transportation tax incentives in the upcoming infrastructure package. These incentives will play a critical role in America’s economic recovery, alleviate some of the pollution impacts that have been borne by disadvantaged communities, and help the country build back better and cleaner. The clean energy sector was projected to add 175,000 jobs in 2020 but the COVID-19 pandemic upended the industry and roughly 300,000 clean energy workers were still out of work in the beginning of 2021.1 Clean energy, energy efficiency, and clean transportation tax incentives are an important part of bringing these workers back. It is critical that these policies support strong labor standards and domestic manufacturing. The importance of clean energy tax policy is made even more apparent and urgent with record- high temperatures in the Pacific Northwest, unprecedented drought across the West, and the impacts of tropical storms felt up and down the East Coast. We ask that the infrastructure package prioritize inclusion of a stable, predictable, and long-term tax platform that: Provides long-term extensions and expansions to the Production Tax Credit and Investment Tax Credit to meet President Biden’s goal of a carbon pollution-free power sector by 2035; Extends and modernizes tax incentives for commercial and residential energy efficiency improvements and residential electrification; Extends and modifies incentives for clean transportation options and alternative fuel infrastructure; and Supports domestic clean energy, energy efficiency, and clean transportation manufacturing.
    [Show full text]
  • 1 April 2, 2020 the Honorable Nancy Pelosi Speaker, U.S. House Of
    April 2, 2020 The Honorable Nancy Pelosi Speaker, U.S. House of Representatives H-232, United States Capitol Washington, DC 20515 Dear Speaker Pelosi: We are grateful for your tireless work to address the needs of all Americans struggling during the COVID-19 pandemic, and for your understanding of the tremendous burdens that have been borne by localities as they work to respond to this crisis and keep their populations safe. However, we are concerned that the COVID-19 relief packages considered thus far have not provided direct funding to stabilize smaller counties, cities, and towns—specifically, those with populations under 500,000. As such, we urge you to include direct stabilization funding to such localities in the next COVID-19 response bill, or to lower the threshold for direct funding through the Coronavirus Relief Fund to localities with smaller populations. Many of us represent districts containing no or few localities with populations above 500,000. Like their larger neighbors, though, these smaller counties, cities, and towns have faced enormous costs while responding to the COVID-19 pandemic. These costs include deploying timely public service announcements to keep Americans informed, rapidly activating emergency operations, readying employees for telework to keep services running, and more. This work is essential to keeping our constituents safe and mitigating the spread of the coronavirus as effectively as possible. We fear that, without targeted stabilization funding, smaller localities will be unable to continue providing these critical services to our constituents at the rate they are currently. We applaud you for including a $200 billion Coronavirus Relief Fund as part of H.R.
    [Show full text]
  • Illinois Congressional Delegation Bios
    Illinois Congressional Delegation Bios Senator Richard Durbin (D-IL) Senator Dick Durbin, a Democrat from Springfield, is the 47th U.S. Senator from the State of Illinois, the state’s senior senator, and the convener of Illinois’ bipartisan congressional delegation. Durbin also serves as the Assistant Democratic Leader, the second highest ranking position among the Senate Democrats. Also known as the Minority Whip, Senator Durbin has been elected to this leadership post by his Democratic colleagues every two years since 2005. Elected to the U.S. Senate on November 5, 1996, and re-elected in 2002, 2008, and 2014, Durbin fills the seat left vacant by the retirement of his long-time friend and mentor, U.S. Senator Paul Simon. Durbin sits on the Senate Judiciary, Appropriations, and Rules Committees. He is the Ranking Member of the Judiciary Committee's Subcommittee on the Constitution and the Appropriations Committee's Defense Subcommittee. Senator Tammy Duckworth (D-IL) U.S. Senator Tammy Duckworth is an Iraq War Veteran, Purple Heart recipient and former Assistant Secretary of the Department of Veterans Affairs. She was among the first Army women to fly combat missions during Operation Iraqi Freedom. Duckworth served in the Reserve Forces for 23 years before retiring from military service in 2014 at the rank of Lieutenant Colonel. She was elected to the U.S. Senate in 2016 after representing Illinois’s Eighth Congressional District in the U.S. House of Representatives for two terms. In 2004, Duckworth was deployed to Iraq as a Black Hawk helicopter pilot for the Illinois Army National Guard.
    [Show full text]
  • Chinese Hacking: Impact on Human Rights and Commercial Rule of Law
    CHINESE HACKING: IMPACT ON HUMAN RIGHTS AND COMMERCIAL RULE OF LAW HEARING BEFORE THE CONGRESSIONAL-EXECUTIVE COMMISSION ON CHINA ONE HUNDRED THIRTEENTH CONGRESS FIRST SESSION JUNE 25, 2013 Printed for the use of the Congressional-Executive Commission on China ( Available via the World Wide Web: http://www.cecc.gov U.S. GOVERNMENT PRINTING OFFICE 81–855 PDF WASHINGTON : 2013 For sale by the Superintendent of Documents, U.S. Government Printing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 CONGRESSIONAL-EXECUTIVE COMMISSION ON CHINA LEGISLATIVE BRANCH COMMISSIONERS Senate House SHERROD BROWN, Ohio, Chairman CHRIS SMITH, New Jersey, Cochairman MAX BAUCUS, Montana FRANK WOLF, Virginia CARL LEVIN, Michigan MARK MEADOWS, North Carolina DIANNE FEINSTEIN, California ROBERT PITTENGER, North Carolina JEFF MERKLEY, Oregon TIM WALZ, Minnesota MARCY KAPTUR, Ohio MICHAEL HONDA, California EXECUTIVE BRANCH COMMISSIONERS SETH D. HARRIS, Department of Labor FRANCISCO J. SA´ NCHEZ, Department of Commerce NISHA DESAI BISWAL, U.S. Agency for International Development LAWRENCE T. LIU, Staff Director PAUL B. PROTIC, Deputy Staff Director (II) CO N T E N T S STATEMENTS Page Opening Statement of Hon. Sherrod Brown, a U.S. Senator from Ohio; Chair- man, Congressional-Executive Commission on China ...................................... 1 Smith, Hon. Christopher H., a U.S. Representative from New Jersey; Cochair- man, Congressional-Executive Commission on China ...................................... 3 Levin, Hon. Carl, a U.S. Senator from Michigan; Member, Congressional- Executive Commission on China ........................................................................ 5 Pittenger, Hon. Robert, a U.S. Representative from North Carolina; Member, Congressional-Executive Commission on China ...............................................
    [Show full text]
  • Frank, Barney (B
    Frank, Barney (b. 1940) by Linda Rapp Encyclopedia Copyright © 2015, glbtq, Inc. Entry Copyright © 2004, glbtq, inc. Reprinted from http://www.glbtq.com Barney Frank. United States congressman Barney Frank is known for his intelligence, his quick and acerbic wit, and his spirited defense of his social and political beliefs. He has been a leader not only in the cause of gay and lesbian rights, but also on issues including fair housing, consumer rights, banking, and immigration. Frank was born on March 31, 1940 in Bayonne, New Jersey, where his father owned a truck stop. As a youngster Frank developed an interest in politics. He did not, however, foresee a career in government for himself because he observed in politics a dismaying amount of corruption and an inhospitable attitude toward Jews. He had, moreover, realized at the age of thirteen that he was gay, which also seemed an obstacle to a political career. Nevertheless, Frank remained an avid student of politics. After receiving a bachelor's degree from Harvard in 1962, he entered the university's graduate program in political science. In addition to offering courses in government from 1963 to 1967, he worked as the assistant to the director of the Institute for Politics at the John F. Kennedy School of Government in 1966 and 1967. Frank left the graduate program in 1967 to work on Kevin White's campaign to become mayor of Boston. Following White's victory, Frank was his executive assistant for three years and then spent a year as an administrative assistant to Representative Michael J.
    [Show full text]
  • The Commonwealth of Massachusetts
    ~ THE COMMONWEALTH OF MASSACHUSETTS OFFICE OF THE ATTORNEY GENERAL ONE ASHBURTON PLACE BOSTON, MASSACHUSETTS 02108 MARTHA COAKLEY (617) 727-2200 www.mass.gov/ago ATTORNEY GENERAL November 24,2008 The Honorable Edward M. Kennedy, Chairman Senate Committee on Health, Education, Labor and Pensions 428 Senate Dirksen Offce Building Washington, D.C. 20510 Re: Senate 20, "The Protecting Patients and Health Care Act" Dear Senator Kennedy: As you are aware, last week Senator Hilary Rodham Clinton and Senator Patt Murray introduced Senate 20, A Bil to Prohibit the Implementation or Enforcement of Certain Regulations. I am writing to express my strong support for Senate 20, referred to as the "Protecting Patients and Health Care Act," and my continued opposition to the United States Department of Health and Human Services' proposed "provider conscience" regulations. The bil was referred to the Senate Committee on Health, Education, Labor and Pensions on November 20,2008. Senate 20 prevents the Secretary of Health and Human Services from finalizing, enforcing, implementing, or taking other action in furtherance of the proposed regulations, which are available at 73 Fed. Reg. 50274 (August 26,2008), section 245 of the Public Health Service Act (42 U.S.C. 238n), and section 508(d) of division G of the Consolidated Appropriations Act, 2008 (Public Law 110-161). Attached for your reference please find a copy of the September 19, 2008 letter I submitted to Secretary Leavitt in opposition to the proposed regulations. Senate 20 is timely and critical to protecting patients' access to basic reproductive health care services and information. Accordingly, I ask the Committee to report the Protecting Patients and Health Care Act to the entire Senate for passage.
    [Show full text]
  • Senator Jesse Helms
    North Carolina Congressional Delegation 115th Congress (2017 – 2018) Representative Mark Walker (R-6) Senator Richard Burr (R) 1305 Longworth House Office Building 217 Russell Senate Office Building Washington, DC 20515 Washington, DC 20510 Phone: (202) 225-3065 Phone: (202) 224-3154 Fax: (202) 225-8611 Fax: (202) 228-2981 Committees: Homeland Security; House Admin; Oversight Committees: Finance; Chairman of Select Intelligence; and Government Reform Health, Educ, Labor and Pensions (HELP); Special Cmte on Aging Representative David Rouzer (R-7) 424 Cannon House Office Building Senator Thom Tillis (R) Washington, DC 20515 185 Dirksen Senate Office Building Phone: (202) 225-2731 Washington, DC 20510 Fax: (202) 225-5773 Phone: (202) 224-6342 Committees: Agriculture; Transportation & Infrastructure; Fax: (202) 228-3398 Natural Resources Committees: Armed Services; Banking,HUD; Veterans Affairs; Judiciary; Special Cmte. on Aging Representative Richard Hudson (R-8) 429 Cannon House Office Building Representative G. K. Butterfield (D-1) Washington, DC 20515 2080 Rayburn House Office Building Phone: (202) 225-3715 Washington, DC 20515 Fax: (202) 225-4036 Phone: (202) 225-3101 Committees: Energy & Commerce Fax: (202) 225-3354 Committees: Energy & Commerce Representative Robert Pittenger (R-9) 224 Cannon House Office Building Representative George Holding (R-2) Washington, DC 20515 1110 Longworth House Office Building Phone: (202) 225-1976 Washington, DC 20515 Fax: (202) 225-3389 Phone: (202) 225-3032 Committees: Financial Services Fax: (202)
    [Show full text]
  • Dollars and Sense Hearing Committee on Financial Services Us House of Representatives
    THE FUTURE OF MONEY: DOLLARS AND SENSE HEARING BEFORE THE SUBCOMMITTEE ON DOMESTIC MONETARY POLICY AND TECHNOLOGY OF THE COMMITTEE ON FINANCIAL SERVICES U.S. HOUSE OF REPRESENTATIVES ONE HUNDRED TWELFTH CONGRESS SECOND SESSION NOVEMBER 29, 2012 Printed for the use of the Committee on Financial Services Serial No. 112–162 ( U.S. GOVERNMENT PRINTING OFFICE 79–692 PDF WASHINGTON : 2013 For sale by the Superintendent of Documents, U.S. Government Printing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate Nov 24 2008 18:12 Mar 26, 2013 Jkt 079692 PO 00000 Frm 00001 Fmt 5011 Sfmt 5011 K:\DOCS\79692.TXT TERRI HOUSE COMMITTEE ON FINANCIAL SERVICES SPENCER BACHUS, Alabama, Chairman JEB HENSARLING, Texas, Vice Chairman BARNEY FRANK, Massachusetts, Ranking PETER T. KING, New York Member EDWARD R. ROYCE, California MAXINE WATERS, California FRANK D. LUCAS, Oklahoma CAROLYN B. MALONEY, New York RON PAUL, Texas LUIS V. GUTIERREZ, Illinois DONALD A. MANZULLO, Illinois NYDIA M. VELA´ ZQUEZ, New York WALTER B. JONES, North Carolina MELVIN L. WATT, North Carolina JUDY BIGGERT, Illinois GARY L. ACKERMAN, New York GARY G. MILLER, California BRAD SHERMAN, California SHELLEY MOORE CAPITO, West Virginia GREGORY W. MEEKS, New York SCOTT GARRETT, New Jersey MICHAEL E. CAPUANO, Massachusetts RANDY NEUGEBAUER, Texas RUBE´ N HINOJOSA, Texas PATRICK T. MCHENRY, North Carolina WM. LACY CLAY, Missouri JOHN CAMPBELL, California CAROLYN MCCARTHY, New York MICHELE BACHMANN, Minnesota JOE BACA, California KEVIN McCARTHY, California STEPHEN F. LYNCH, Massachusetts STEVAN PEARCE, New Mexico BRAD MILLER, North Carolina BILL POSEY, Florida DAVID SCOTT, Georgia MICHAEL G.
    [Show full text]