Financial Services Oversight in the New Congress: A Primer on Congressional Inquiries and a Preview of Democratic Priorities

As Democrats assume control this year of both houses of Congress and the Executive Branch, financial services firms can expect a dramatic increase in congressional and regulatory scrutiny.

Economic hardship caused by the COVID-19 crisis will likely be a primary focus for congressional activity in 2021. Democratic committee chairs will use oversight inquiries and hearings to build support for pandemic-relief measures and to simultaneously build support for long-sought reforms in consumer credit, servicing, student lending, debt collection, credit reporting, and other areas. These efforts will also impact regulatory agendas, as Congress will pressure regulators to address perceived problems in the consumer finance markets.

In the January 26th webinar, Bradley Partner Michael Gordon will provide an introduction to Congressional oversight, including:

• Congress’ investigatory tools and powers
• The rules governing congressional oversight
• Defenses and rights of subjects of congressional investigations
• Strategic and practical considerations for recipients of congressional letters and subpoenas
• Likely oversight priorities in the new Congress

Michael Gordon spent years leading investigations for several Democratic-led U.S. House Committees and has represented banks and financial services companies in numerous congressional investigations. In addition, Michael has served in senior positions at the Consumer Financial Protection Bureau and U.S. Treasury Department.