Lucas: We are still dealing with the consequences of Dodd-Frank

<p><strong>Washington, DC –</strong> Today, the House Financial Services Committee held a hearing entitled, “Dodd-Frank Turns 15: Lessons Learned and the Road Ahead”.</p>

<p>Having served on the Dodd-Frank conference committee – and the only Republican on House Financial Services who was in Congress during that time – Congressman Lucas took the opportunity to question how Dodd-Frank has complicated the Federal Reserve system.</p>

<p><strong>SELECTED QUOTES</strong>:</p>

<p><strong>Lucas</strong>: &#8220;In our country, we’ve assigned the Fed to deal with monetary policy and prudential matters.</p>

<p>They’ve always had this dual role, but after the passage of Dodd-Frank, their prudential function expanded dramatically, and they began policing behavior they had no authority to.</p>

<p>As Chairman of the Task Force on this issue, a concern I continue to raise, is that broadening the authority of the Fed’s regulatory and supervisory roles ultimately politicizes the institution and threatens its monetary policy independence.</p>

<p>Dr. Kupiec, do you think mission creep from the regulatory side of the Fed complicates their role as our central bank?&#8221;</p>

<p>You can watch his full remarks by clicking <a href="https://www.youtube.com/watch?v=48SR9nyn18U">here</a> or on the image below.</p>

<figure class="wp-block-image size-large"><a href="https://www.youtube.com/watch?v=48SR9nyn18U"><img alt="" class="wp-image-5418" height="552" src="https://d12t4t5x3vyizu.cloudfront.net/lucas.house.gov/uploads/2025/07/IMG_007837-1024x552.jpg" width="1024" /></a><figcaption class="wp-element-caption">Screenshot</figcaption></figure>

<p>Congressman Lucas is the Chairman of the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity.</p>

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<p>The post <a href="https://lucas.house.gov/posts/lucas-we-are-still-dealing-with-the-consequences-of-dodd-frank">Lucas: We are still dealing with the consequences of Dodd-Frank</a> appeared first on <a href="https://lucas.house.gov">Frank Lucas</a>.</p>