ARRA News Service facebook page
News for social, fiscal & national security conservatives who believe in God, family & the USA. Upholding the rights granted by God & guaranteed by the U.S. Constitution, traditional family values, "republican" principles / ideals, transparent & limited "smaller" government, free markets, lower taxes, due process of law, liberty & individual freedom. Content approval rests with the ARRA News Service Editor. Opinions are those of the authors. While varied positions are reported, beliefs & principles remain fixed. No revenue is generated for or by this site - no paid ads - no payments for articles. Fair Use doctrine is posted & used.
Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
Contact: (Pub. Since July, 2006)
    Home Page

One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Monday, March 12, 2018

Making It Easier For Consumers

‘Commonsense Fixes’ In Sen. Crapo’s Bill Will Provide ‘Regulatory Relief For Banks And Credit Unions, Especially The Smaller Ones’

SEN. MIKE CRAPO (R-ID), Senate Banking Committee Chairman: “The Economic Growth, Regulatory Relief, and Consumer Protection Act is aimed at rightsizing regulation for financial institutions, including community banks and credit unions, making it easier for consumers to get mortgages and to obtain credit.  As I have often said, the real victims of what I am talking about are … the people, the small businesses--those who need to have access to credit and need to have the ability to get a loan to purchase a house or to start a small business or to expand a small business or other important needs.” (Sen. Crapo, Congressional Record, S. 1424, 3/07/2018)

SENATE MAJORITY LEADER MITCH McCONNELL (R-KY): “[S]ince the federal government implemented massive new regulations under the 2010 Dodd-Frank Act, our community banks and credit unions have been getting squeezed. Dodd-Frank’s imprecise, inefficient, one-size-fits-all framework dropped these small institutions into the regulatory maze that was intended for Wall Street…. Senator Crapo’s Economic Growth, Regulatory Relief, and Consumer Protection Act is … an important step toward unwinding the harm caused by the Obama administration’s knee-jerk reaction to the 2008 financial crisis. And importantly, this bill has strong bipartisan support. On both sides of the aisle, members with a diversity of views on Dodd-Frank itself have recognized that this set of commonsense fixes deserves all of our support.” (Sen. McConnell, Remarks, 3/07/2018)

SEN. JOHN CORNYN (R-TX): “You might ask: Why do we care about providing regulatory relief for banks and credit unions, especially the smaller ones that are in our communities? Well, that is where people go when they want to buy a house and they need a mortgage, when they need some startup money for a new business, where they need to go borrow money, for example, to buy seed and equipment to plant a crop. If you are in the agriculture sector, that is where they get access to credit, and that is why it is so important.” (Sen. Cornyn, Congressional Record, S. 1408, 3/07/2018)

‘Fix The Regulatory Regime So We Can Get Community Banks Back In Business’

SEN. BOB CORKER (R-TN): “…we’ve ended up in a situation now where our community banks and credit unions that serve our communities, that cause economic growth to occur, [due to Dodd-Frank] now have these large back-office operations that are spread over a smaller asset base. It has made them noncompetitive and has made it very difficult for them to do the jobs that we all cherish that they do back home, which is help to grow those economies. And so this bill is focused on them. … What we’re doing is taking a very constructive step to make sure that these smaller institutions, which represent a very small amount of the assets in our nation but have such outsized impact on the communities that they are in, have the ability again to flourish and do the things that are necessary for our economies back home to grow.” (Sen. Corker, Press Release, 3/6/2018)

SEN. DEAN HELLER (R-NV): “For nearly a decade, burdensome financial regulations meant to protect Americans during the Financial Crisis hurt small community lenders in Nevada, which stifled economic growth and lending in my home state of Nevada… I’m pleased that the Senate advanced a bipartisan, regulatory relief package that includes my seven measures to help community lenders, protect consumers and veterans, and increase oversight of the Federal Reserve and Treasury Department.” (Sen. Heller, Press Conference, 3/8/2018)

SEN. TIM SCOTT (R-SC):“Several initiatives introduced by U.S. Senator Tim Scott (R-SC) have been included in S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, which the U.S. Senate is debating this week. … ‘It is a great day when we have the opportunity to pass legislation that will create real, tangible change for the American people,’ said Scott. ‘I am very pleased that my amendments will be included, as they will take a significant step forward in curbing ‘synthetic ID fraud’ – a crime that negatively impacts millions of people, and also a seeks to help credit-invisible Americans be more competitive for mortgage lending and homeownership.’” (Sen. Scott, Press Release, 3/8/2018)

SEN. MIKE ROUNDS (R-SD): “As a member of the Senate Banking Committee, I am pleased to be an original cosponsor of this important legislation, which will provide much-needed regulatory relief to our community banks and credit unions, whose ability to serve their customers has been made more difficult since the passage of the Dodd-Frank Act. … Making sure American families and businesses have access to credit when they need it is critical as we work to further grow our economy and create jobs. The ‘Economic Growth, Regulatory Relief and Consumer Protection Act’ will strengthen America’s financial system and expand economic opportunities across the country, especially in rural areas, which are often the most underserved.” (Sen. Rounds, Press Release, 3/7/2018)

SEN. DAVID PERDUE (R-GA): “Local banks, credit unions, and regional banks, are the banks supporting our local main street, providing small businesses with capital, and sponsoring little league baseball games. For nearly eight years, small-town banks have been hammered by big government regulations enacted by Dodd-Frank. … Small banks often spend too much time and resources dealing with the regulations and compliance costs that Dodd-Frank has created. Put simply, Dodd-Frank is another one-size-fits-all, Washington, bureaucratic policy that hurts the very people it claims to champion, the middle class, working poor, and those communities that have the least access to capital. Fortunately, we have an opportunity to do something today to fix these problems.” (Sen. Purdue, Press Release, 3/7/2018)

SEN. THOM TILLIS (R-NC): “This legislation provides relief to community banks and midsize regional banks. It does not restrict the regulators from going down the chain and identifying any practices that need additional regulations, but instead of assuming you have to overregulate, do it when the behavior of the banks warrants it. What we are trying to do is fix the regulatory regime so we can get community banks back in business. We have seen a dramatic fall in the number of community banks that have a personal relationship with the people seeking loans. We have bipartisan support for this bill because we have fixed the regulatory burden on smaller banks, we think it makes sense, and believe it will have a positive effect on the banking sector.” (Sen. Tillis, Press Release, 3/8/2018)>

SEN. JOHN KENNEDY (R-LA): “I believe that it’s time to swing the pendulum back towards simple, sensible regulations, and the Economic Growth, Regulatory Relief, and Consumer Protection Act is a vital step in the right direction.  Dodd-Frank was like using a sledgehammer to go after a gnat. All this reform package is suggesting is that we should try a flyswatter.” (Sen. Kennedy, Press Release, 3/6/2018)

SEN. JERRY MORAN (R-KS): “Today we have a regulatory environment in which bankers are fearful of making a home loan to a citizen within their community. If somebody wants to buy a home or build a home, they are told by their local bank: We can't afford the cost associated with the regulations for making these loans. We can't afford the risk that if we make a technical error, the financial consequences to our bank will be so great, we will be out of the home loan business…. We need more banks, more financial institutions making home loans in more communities so that more people in rural American can access the American dream…. I have indicated that in communities that I represent, it is often true that economic development can be the difference between whether or not there is a grocery store in town.” (Sen. Moran, Congressional Record, S. 1358, 3/06/2018)

SEN. ROY BLUNT (R-MO): “Credit unions and community banks provide critical financial services for families and for small businesses across Missouri and across the country. When the Dodd-Frank bill became law, small and medium-sized banks and credit unions were faced with huge regulatory burdens. Big banks got bigger, and small banks got bought and went out of business way too often. There was negative impact on their ability to maintain service on Main Street in a small community…. In talking about the bill that I am pleased to be a cosponsor of, the president of the Missouri Bankers Association, Max Cook, said: ‘This common-sense legislation will allow banks to better serve the needs of customers and businesses in our communities.’” (Sen. Blunt, Press Release, 12/12/2017)

Tags: Making It Easier For Consumers, Commonsense Fixes, Sen. Crapo’s Bill, Regulatory Relief, For Banks And Credit Unions To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service and "Like" Facebook Page - Thanks!
Posted by Bill Smith at 1:00 PM - Post Link


Post a Comment

<< Home

View U.S. National Debt

Don't miss anything!
Subscribe to the
ARRA News Service
It's FREE & No Ads!

You will receive a verification email
& must validate you subscribed!

You Then Receive One Email Each AM
With Prior Days Articles / Toons / More

Also, Join us at:

Recent Posts:
Personal Tweets by the editor:
Dr. Bill - OzarkGuru - @arra
#Christian Conservative; Retired USAF & Grad Professor. Constitution NRA ProLife schoolchoice fairtax - Editor ARRA NEWS SERVICE. THANKS FOR FOLLOWING!

Action Links!
State Upper & Lower House Members
State Attorney Generals
State Governors
The White House
US House of Representatives
US Senators

Facebook Accts - Dr. Bill Smith
ARRA News Service
Arkansans Against Big Government
Alley-White Am. Legion #52
Catholics & Protestants United Against Discrimination
End Taxpayer Funding of NPR
Overturn Roe V. Wade
Prolife Soldiers
Project Wildfire 4 Life
Republican Liberty Caucus of Arkansas
The Gold Standard
US Atty Gen Loretta Lynch, aka Eric Holder, Must Go
Veterans for Sarah Palin
Why Vote for Hillary (Satire)
FB Groups:
Arkansas For Sarah Palin
Arkansas Conservative Caucus
Arkansas County Tea Party
Arkansans' Discussion Group on National Issues
Blogs for Borders
Conservative Solutions
Conservative Voices
Defend Marriage -- Arkansas
FairTax Nation
Arkansas for FairTax
Friends of the TEA Party in Arkansas
Freedom Roundtable
Pro-Life Rocks - Arkansas
Republican Network
Republican Liberty Caucus of AR
Reject the U.N.


Request Via
Article Comment

Links to ARRA News
A Patriotic Nurse
Agora Associates
a12iggymom's Blog
America, You Asked For It!
Americans for a Free Republic
America's Best Choice
America's Whatchtower
An Ol’ Broad’s Ramblings
ARRA Twitter
As A Matter of Fact
As The Crackerhead Crumbles
Baaad Media!
Black & Right
Blogs For Borders
Blogs for Palin
Blow the Trumpet Ministry
Boot Berryism
Cap'n Bob & the Damsel
Chicago Ray Report
Chuck Baldwin - links
Citizen Pamphleteer
Common Cents
Conservative Hideout
Conservative Observer AZ
Conservative Voices
Conway Real Deal
Defeat Obama's Agenda
Diana's Corner
eGOP News
Florida Pundit
Franklin Online Outreach
Freedom For US Now
Free Zone Media Center
For God and Liberty
Garland County Republicans
Greater Fitchburg For Life
Lasting Liberty Blog
Liberal Isn't Amy
Liberty's Lifeline
Maggie's Notebook
Marathon Pundit
Monkey in the Middle
NASA Satellites
No Runny Eggs
Okie Campaigns
Our Voices Arkansas
Patriot's Corner
Publius Forum
Randy's Roundtable
Real Debate Wisconsin
Religion and Morality
Right on Issues that Matter
Right Reason
Rocking on the Right Side
Saber Point
Saline Watchdog
Secure Arkansas
Sentry Journal
Sultan Knish
Stop Obama Satire & Cartoons
The Arkansas Patriot
The Audacity of Logic
The Blue Eye View
The Bobo Files
The Born Again Americans
TEA Party Cartoons
The Conservative Citizen
The Foxhole | Unapologetic Patriot
The Liberty Republican
The Lid
The Looking Spoon
The Maritime Sentry
The O Word
The Path to Tyranny Blog
The Real Polichick
The War on Guns
Truth About Obamacare
Twitter @ARRA
Warning Signs
Women's Prayer & Action

Editor's Managed Twitter Accounts
Twitter Dr. Bill Smith @arra
Twitter Arkansas @GOPNetwork
Twitter @BootBerryism
Twitter @SovereignAllies
Twitter @FairTaxNation

Editor's Recommended Orgs
Accuracy in Media (AIM)
American Committment
American Culture & Faith Institute
American Enterprise Institute
American Family Business Institute
Americans for Limited Government
Americans for Prosperity
Americans for Tax Reform
American Security Council Fdn
AR Faith & Ethics Council
Arkansas Policy Foundation
Ayn Rand Institute
Bill of Rights Institute
Campaign for Working Families
CATO Institute
Center for Individual Freedom
Center for Immigration Studies
Center for Just Society
Center for Freedom & Prosperity
Citizens Against Gov't Waste
Citizens in Charge Foundstion
Coalition for the Future American Worker
Competitive Enterprise Institute
Concerned Veterans for America
Concerned Women for America
Declaration of Am. Renewal
Eagle Forum
Family Research Council
Family Security Matters
Franklin Center for Gov't & Public Integrity
Freedom Works
Gingrich Productions
Global Incident Map
Great Americans
Gold Standard 2012 Project
Gun Owners of America (GOA)
Heritage Action for America
David Horowitz Freedom Center
Institute For Justice
Institute for Truth in Accounting
Intercollegiate Studies Institute
Judicial Watch
Less Government
Media Reseach Center
National Center for Policy Analysis
National Right To Work Foundation
National Rifle Association (NRA)
National Rifle Association (NRA-ILA)
News Busters
O'Bluejacket's Patriotic Flicks
Open Secrets
Presidential Prayer Team
Religious Freedom Coalition
Renew America
Ron Paul Institute
State Policy Network
Tax Foundation
Tax Policy Center
The Club for Growth
The Federalist
The Gold Standard Now
The Heritage Foundation
The Leadership Institute
Union Facts

Blogs For Borders

Reject the United Nations

Adopt Our Troops in Prayer

Thousands of Deadly Islamic Terror Attacks Since 9/11

FairTax Nation on FaceBook
Friends of Israel - Stand with Israel
Blog Feeds
Syndicated - Get the ARRA News Service feed Syndicated!
ARRA Blog Feed

Add to Google Reader or Homepage

Add to The Free Dictionary

Powered by Blogger

  • To Exchange Links - Email:!
  • Comments by contributing authors or other sources do not necessarily reflect the position the editor, other contributing authors, sources, readers, or commenters. No contributors, or editors are paid for articles, images, cartoons, etc. While having reported on and promoting beliefs associated with the former Arkansas Republican Assemblies (ARRA), this blog/site is controlled and supported by the editor. This site/blog does not advertise for money or services nor does it solicit funding for its support.
  • Fair Use: This site/blog may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. Such material is made available to advance understanding of political, human rights, economic, democracy, and social justice issues, etc. This constitutes a 'fair use' of such copyrighted material as provided for in section Title 17 U.S.C. Section 107 of the US Copyright Law. Per said section, the material on this site/blog is distributed without profit to readers to view for the expressed purpose of viewing the included information for research, educational, or satirical purposes. Any person/entity seeking to use copyrighted material shared on this site/blog for purposes that go beyond "fair use," must obtain permission from the copyright owner.
  • © 2006 - 2018 ARRA News Service
Creative Commons License
Creative Commons Attribution Noncommercial Share Alike 3.0 Unported License.