Comments to April 2017 Richard Cordray Testimony at House Financial Services Committee

I did not think either the Republicans, Democrats, or Director Cordray covered themselves in glory at these hearings. However, some of the written comments were intriguing. Perhaps not surprisingly,  the Heritage Foundation comments were critical of financial services regulation. They made at least one interesting point, however, stating that when regulators over-regulate, organizations sometimes take risky behaviors under the mistaken impression that they are sanctioned by regulators and therefore safe. Whether this happens in practice is difficult to quantify, of course.