Since 2005, we have documented the pernicious effect that the trade in gold has had on civilians in eastern Congo... Human Rights Watch supported and continues to support Dodd-Frank 1502. We never saw it as a panacea... Rather, we saw it as an important tool to help address a specific goal: stopping the flow of funds to abusive armed groups who were exploiting Congo’s lucrative mining resources through increased transparency and accountability. Today...Dodd-Frank 1502 may be suspended or even revoked. We know legislation can sometimes be a blunt tool and that it can have unintended consequences... [We] welcome a discussion on how Section 1502 can fulfill its objectives more efficiently; however, we strongly believe that its suspension or revocation would be damaging for security, human rights, and for responsible companies.  To be crystal clear: if the president suspends the law or if Congress revokes it, we believe that the repercussions would be very serious. 

This hearing comes at a critical time in Congo [with killings and violence linked to suspended elections and against international experts]... In this context, suspending or eliminating Dodd-Frank 1502 would make an already explosive situation in Congo worse. Abusive armed groups, factions of the security forces, and other opaque mafia-like networks allegedly linked to government officials could then easily return to the lucrative mines in eastern Congo to finance their activities... Suspending Dodd-Frank 1502 would also harm responsible American companies that have embraced the law and the principles that underpin it, including...Apple, Intel, and Tiffany. [also refers to steps by Richline Group (part of Berkshire Hathaway), London Bullion Market Association, Dubai Multi-Commodities Center, International Tin Supply Chain Initiative]  Unfortunately, the main industry critics, namely the National Association of Manufacturers, have not put forward specific proposals that would tweak 1502 to make it more effective.