Olympia Snowe: “I want to associate myself with the words of Chairman Dodd. There are a number of lenders in Maine that make smaller…”

“I want to associate myself with the words of Chairman Dodd. There are a number of lenders in Maine that make smaller size loans. Because the points and fees cap in the Merkley-Klobuchar amendment, which I supported, is based on a percentage of the principal amount of the loan, the points and fees cap established in the amendment may limit the ability of some lenders to make smaller-size loans. As a result, like Senator Dodd, I assume that it is the Senator's intention that the regulator use the authority to make adjustments to the standards in the case of these smaller loans. Is this correct?”