Mike Crapo: “I have been very encouraged by the reaction of my colleagues and their support for the Economic Growth, Regulatory…”

“I have been very encouraged by the reaction of my colleagues and their support for the Economic Growth, Regulatory Relief, and Consumer Protection Act over the last few days. We have heard many stories about how the regulatory burden on our financial institutions has had a direct impact on Main Street. Yesterday, Senator Moran talked about the ranchers who couldn't get a loan because they lacked collateral in an emergency. Senators Heitkamp and Perdue explained the benefits of relationship banking and the advantage of lending based on a personal knowledge of the customer. Senator Corker talked about Dodd-Frank's unintended consequences for small financial institutions. Senator Tester discussed bank consolidation and the real impact it has had on communities in Montana. Senator Donnelly went through the various important consumer protection items included in this bill. Senator Kennedy also talked about some of the important consumer protection provisions and about the lack of access to credit for small businesses in Louisiana. Senator Warner spent a good amount of time defending this robust bipartisan bill against its critics and some of the false information being shared about the bill.…”