Gregory Meeks actually said...

"If CECL causes more small lenders to close their doors, the already growing problem of banking deserts and unbanked individuals will be exacerbated."

"Small community banks have been disappearing at an alarming rate since the financial crisis..."

"I understand that switching to the CECL accounting method... will have significant real-world impacts on community banks, minority banks, and other providers of credit and banking services."

"If these financial institutions curb lending and restrict credit, low-income individuals could see their cost of borrowing rise or could lose access to credit altogether."