I am concerned because as outlined by the Bureau in March of just last year, 2015, there was an acknowledgement that this rulemaking would reduce revenue by up to 70 percent of these short-term, small dollar, community-based credit providers, and potentially even put them out of business.
Frank Guinta expresses concern about proposed regulations harming small credit providers.
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More from Frank Guinta
I thank the gentleman from Wisconsin (Mr. Sensenbrenner) for his support in this area and appreciate his willingness to continue to work in this arena. I certainly will continue to do that. I reserve the balance of my time.
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