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Rep. Graves Statement on Senate Passage of Financial Regulatory Reform Bill

Washington, March 15, 2018 - Rep. Tom Graves (R-GA-14) issued the following statement after the Senate passed the Economic Growth, Regulatory Relief, and Consumer Protection Act:

“I commend Senate Banking Committee Chairman Mike Crapo for his work on this important bill, which provides relief from the crushing regulatory environment Dodd-Frank imposed on credit unions and community banks. I share his passion of ensuring these community financial institutions – an essential method of credit in many rural areas and small towns – can not only stay open but thrive.

“That’s why my Financial Services Appropriations bill last year included many similar provisions. It’s also one of the many reasons I supported Chairman Hensarling’s Financial CHOICE Act, which repealed and replaced Dodd–Frank.

“Now that both Houses of Congress acted to provide relief for these critical community institutions, I look forward to hashing out a final bill and sending reforms to the president’s desk. Then, we must build on these initial reforms by providing even more financial relief to local banks and the communities they support.”

More than 1,900 community financial institutions disappeared after the Dodd–Frank Wall Street Reform and Consumer Protection Act was enacted in 2010.


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