Political Quotes

“Thank you, Mr. Chairman, for yielding me the time. Thank you for your leadership on our committee as we work toward better solutions for a modernized financial regulatory structure. Last year, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law. Today we are realizing the overarching effects such legislation will have on our economy, and this has only just begun. Onerous new regulations and the creation of an entirely new agency with vast influence over consumer choice will only impede our recovery. Instead of expanding the scope of government, we need efficient and effective regulatory oversight to support the private sector which will drive our economy's recovery. I have deep concerns about what this new law will mean for employment, as do many of my constituents. Charles Maddy, who is the president of Summit Community Bank, testified before our committee. The bank is headquartered in my district, and he testified just this month about the effects of the new rules and regulations enacted under the Dodd-Frank financial reform legislation on small institutions. Even though small institutions are supposedly ``carved out'' of this law, Charlie expressed serious concerns about his institution's ability to compete in this new regulatory regime.…”