Barry Loudermilk: “Today we know that a major factor leading up to the worst economic crisis in our lifetime was the heavyhanded and…”

“Today we know that a major factor leading up to the worst economic crisis in our lifetime was the heavyhanded and meddlesome politics of the Federal Government. Unfortunately, the previous administration responded to that crisis not by limiting the intrusion of the Federal bureaucracy, but by increasing it. They implemented Dodd-Frank under the guise of protecting the consumer, but, in reality, this bill empowered government, created new bureaucracies, made the big banks bigger, and virtually ended the creation of new community banks. In the wake of the financial crisis, Georgia lost more banks than any other State in the Nation. Unemployment skyrocketed, and hundreds of businesses went under. But instead of creating opportunities for Georgians to pick themselves up and start again, Dodd-Frank continued to suppress our economic recovery, and today, nearly a decade after the end of the recession, there are still 47 counties in Georgia without a local community bank, and 3 counties without a single bank branch at all. The Financial CHOICE Act will reverse these burdensome regulations and, once again, sow the seeds of prosperity on Main Street, not just Wall Street. The bill will end bailouts of big banks by taxpayers and unleash our economic potential by opening the economy to everyone. I urge my colleagues to support the Financial CHOICE Act.”