In this report, we analyze today’s House FinServ Institutions and Consumer Credit Subcommittee hearing examining several legislative proposals under the general rubric of ways to get more efficient regulations.  Bills discussed at the hearing – which unusually these days did not take on a combative tone – include: H.R. 2359, the Systemic Risk Designation Improvement Act; H.R. 2359, the FCRA Liability Harmonization Act; H.R. 1849, the Practice of Law Technical Clarification Act; and three soon to be introduced bills, the “Facilitating Access to Credit Act,” the “Community Institution Mortgage Relief Act,” and the “TRID Improvement Act.”  Republicans generally supported all of these bills, with several (e.g., the Systemic Risk Designation Act) also backed by several Democrats.  However, most Democrats stood by their long-held insistence that it is improper at this time to roll back Dodd-Frank protections.  Of all of the substantive bills considered today, we think H.R. 2359 has the best chance quickly to advance on a bipartisan basis.

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