Date: June 9, 2014
Issue: CFPB; FSOC; JOBS Act
To: House Financial Services Committee
Filing Type: Hill
Description: The U.S. Chamber of Commerce, the world’s largest business federation representing the interests of more than three million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations, and dedicated to promoting, protecting, and defending America’s free enterprise system, strongly supports efforts to oversee and improve the policymaking, research, and supervisory processes at the Consumer Financial Protection Bureau (CFPB), promote capital formation, and to enhance the transparency, accountability, and voting structure of the Financial Stability Oversight Council (FSOC). The Chamber believes that fair and transparent processes are necessary for the appropriate regulation needed to promote consumer protection and mitigate systemic risk. Also, building off of the success of the Jumpstart Our Business Startups Act (JOBS Act), more can be done to facilitate the capital formation needed to spur economic growth and job creation.