The Hill News

Sen. Orrin Hatch (R-Utah) sent Treasury Secretary Timothy Geither the following letter Friday.

Dear Secretary Geithner:

As the Ranking Member of the United State Senate’s Committee on Finance (“Committee”), I have an obligation to consider the impact that federal policy has on America’s international economic competitiveness, and the impact that those policies have on international trade and federal revenues.  The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) contained hundreds of provisions requiring or allowing federal rulemaking through the newly created Consumer Financial Protection Bureau in the Department of the Treasury (“Department”).  I have real concerns that a lack of due diligence in the implementation of Dodd-Frank will result in unduly burdensome regulations that will undermine the competitiveness o! f our domestic financial industry, putting our nation at odds with our trading partners and placing further strain on an already stressed corporate tax structure. 

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