Political Quotes

“I rise today, as my colleague from North Dakota has just done, to speak in support of Senate bill S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. In response to the 2008 financial crisis, many individuals overreacted to the role that smaller institutions played. In the rush to react, these institutions became overregulated. But since the drafting and enactment of Dodd-Frank nearly 10 years ago, Congress has looked for ways to lessen the damaging effects it has had on our financial system in America. As a result of the Dodd-Frank Act, thousands of pages of Federal mandates were imposed upon even the smallest of financial institutions. Community banks all across the country are the key source of lending and other financial services on Main Street throughout this Nation. I believe we should not, and must not, continue to require them to comply with the same regulations as our largest financial institutions that are, perhaps, subject to systemic risk. This bill before us today fixes that by offering a commonsense approach to ensure that our small and medium-sized financial institutions are no longer subject to excessive regulation that has choked the life from them in the country. Senate bill S. 2155 is a result of almost 10 years of negotiations among Members of both parties. This legislation was negotiated in good faith between Republicans and Democrats to find common ground.…”