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THE  \nSUBCOMMITTEE ON OVERSIGHTAND INVESTIGATIONS  \nOF THE  \nCOMMITTEE ON FINANCIAL SERVICESU.S.HOUSE OF REPRESENTATIVES  \nONE HUNDRED FOURTEENTH CONGRESS  \nSECOND SESSION  \nMAY 19,2016  \nPrinted for the use of the Committee on Financial Services  \nSerial No.114-90  \n米  \nU.S.GOVERNMENT PUBLISHING OFFICEWASHINGTON:2017  \n24-136 PDF  \nPATRICK T.McHENRY,North Carolina,  \nVice ChairmanPETER T.KING,New YorkEDWARD R.ROYCE,CaliforniaFRANK D.LUCAS,OklahomaSCOTT GARRETT,New JerseyRANDY NEUGEBAUER,TexasSTEVAN PEARCE,New MexicoBILL POSEY,Florida  \nMICHAEL G.FITZPATRICK,PennsylvaniaLYNN A.WESTMORELAND,GeorgiaBLAINE LUETKEMEYER,MissouriBILLHUIZENGA,MichiganSEAN P.DUFFY,WisconsinROBERT HURT,VirginiaSTEVE STIVERS,OhioSTEPHEN LEE FINCHER,TennesseeMARLIN A.STUTZMAN,IndianaMICK MULVANEY,South CarolinaRANDY HULTGREN,IlinoisDENNISA.ROss EloridsROBERT PITTENGER,North CarolinaANN WAGNER,MissouriANDY BARR,KentuckyKEITH J.ROTHFUS,PennsylvaniaLUKE MESSER,IndianaDAVID SCHWEIKERT,ArizonaFRANK GUINTA,New HampshireSCOTT TIPTON.ColoradoROGER WILLIAMS,TexasBRUCE POLIQUIN.MaineMIA LOVE,UtahFRENCH HILL,ArkansasTOM EMMER,Minnesota  \nHOUSE COMMITTEE ON FINANCIAL SERVICES  \nJEB HENSARLING,Texas,Chairman  \nMAXINE WATERS,California,RankingMember  \nCAROLYN B.MALONEY,New YorkNYDIAM.VELÁZQUEZ,New YorkBRAD SHERMAN,CaliforniaGREGORY W.MEEKS,New YorkMICHAEL E.CAPUANO,MassachusettsRUBEN HINOJOSA,TexasWM.LACY CLAY,MissouriSTEPHEN F.LYNCH,MassachusettsDAVID SCOTT,GeorgiaAL GREEN,TexasEMANUEL CLEAVER,MissouriGWEN MOORE,WisconsinKEITH ELLISON,MinnesotaED PERLMUTTER,ColoradoJAMES A.HIMES,ConnecticutJOHN C.CARNEY,JR.,DelawareTERRI A.SEWELL,AlabamaBILL FOSTER,IllinoisDANIEL T.KILDEE,MichiganPATRICK MURPHY,FloridaJOHN K.DELANEY,MarylandKYRSTEN SINEMA,ArizonaJOYCE BEATTY,OhioDENNY HECK,WashingtonJUAN VARGAS,California  \nSHANNON MCGAHN,Staff DirectorJAMES H.CLINGER,Chief Counsel  \nMICHAELG.FITZPATRICK,Pennsylvania,Vice Chairman  \nPETER T.KING,New YorkPATRICK T.McHENRY,North CarolinaROBERT HURT,VirginiaSTEPHEN LEE FINCHER,TennesseeMICK MULVANEY,South CarolinaRANDY HULTGREN,IllinoisANN WAGNER,MissouriSCOTT TIPTON,ColoradoBRUCE POLIQUIN,MaineFRENCH HILL,Arkansas  \nSUBCOMMITTEE ON OVERSIGHT AND INVESTIGATIONS  \nSEAN P.DUFFY,Wisconsin,Chairman  \nAL GREEN,Texas,Ranking MemberMICHAEL E.CAPUANO,MassachusettsEMANUEL CLEAVER,MissouriKEITH ELLISON,MinnesotaJOHN K.DELANEY,MarylandJOYCE BEATTY,OhioDENNY HECK,WashingtonKYRSTEN SINEMA,ArizonaJUAN VARGAS,California  \nCONTENTS  \nPage  \nHearing held on:  \nMay 19,2016……………………………………………………………………………………………………………………………1  \nAppendix:  \nMay 19,2016…………………………………………………………………………………………………………………………………29  \nWITNESSES  \nTHURSDAY,MAY 19, 2016  \nGray, Ambassador C. Boyden, Partner,Boyden Gray & Associates ……………………5  \nLarkin, Paul J.,Jr., Senior Legal Research Fellow,the Heritage Foundation .8Min, David K., Assistant Professor of Law, the University of California Irvine  \nSchool of Law…………………………………………………………………………………………………………………………9Rosenkranz, Nicholas Quinn, Professor of Law, the Georgetown University  \nLaw Center…………………………………………………………………………………………………………………………………………6  \nAPPENDIX  \nPrepared statements:  \nGray,Ambassador C. Boyden …………………………………………………………………………………………30  \nLarkin, Paul J.,Jr……………………………………………………………………………………………………………………53  \nMin, David K………………………………………………………………………………………………………………………72  \nRosenkranz,Nicholas Quinn……………………………………………………………………………………………………83  \nADDITIONAL MATERIAL SUBMITTED FOR THE RECORD  \nHensarling, Hon. Jeb:  \nLetter from Richard A.Epstein, dated May 21,2016 …………………………………………90  \n# SETTLING THE QUESTION:DID BANKSETTLEMENT AGREEMENTS SUBVERTCONGRESSIONAL APPROPRIATIONS POWERS?\n\nThursday,May 19,2016  \nU.S.HoUSE OF REPRESENTATIVES,SUBCOMMITTEE ON OVERSIGHTAND INVESTIGATIONS,CoMMITTEE ON FINANCIAL SERVICES,  \nWashington,D.C.  \nThe subcommittee met,pursuant to notice,at 9:16 a.m.,in room2128,Rayburn House Office Building,Hon.Sean P.Duffy [chair-man of the subcommittee]presiding.  \nMembers present:Representatives Duffy,Fitzpatrick,Mulvaney,Hul","cbCaikm4qfYYWyjb","https://ap.wps.com/l/cbCaikm4qfYYWyjb","pdf",4256984,104,"English","# Hearing overview\n## Date and session context\n## Title and purpose\n## Background on settlements and housing crisis\n## Consumer relief and donation provisions\n# Witnesses and materials\n## Witness list\n## Prepared statements\n## Additional material submitted for the record","[{\"question\":\"What is the core question of the hearing?\",\"answer\":\"Whether bank settlement agreements subvert Congress’s constitutional appropriations powers.\"},{\"question\":\"What historical context does the hearing describe?\",\"answer\":\"The hearing references the 2008 financial crisis, DOJ investigations of mortgage-backed securities, and the resulting housing meltdown and recession.\"},{\"question\":\"How does the hearing discuss major DOJ settlements?\",\"answer\":\"It highlights large settlements, including amounts and consumer-relief components, and addresses donation-related provisions and whether donations were mandatory.\"}]","SETTLING THE QUESTION - DID BANK SETTLEMENT AGREEMENTS SUBVERT CONGRESSIONAL APPROPRIATIONS POWERS? | PDF",262]