Jun 18 2013
"These misguided regulatory burdens put rural borrowers at risk of losing hometown financial services while doing little to prevent future financial crises."
Washington, D.C. – Today, U.S. Senator Jerry Moran (R-Kan.) released the following statement about his efforts as a member of the Senate Banking Committee to mitigate harms of the Dodd-Frank Act on American community banks:
"As smaller banks around the country continue to be closed and consolidated, it’s clear that Dodd-Frank regulations aimed at reining in dangerous-financial players have disproportionately impacted community banks. These misguided regulatory burdens put rural borrowers at risk of losing hometown financial services while doing little to prevent future financial crises. I will continue to push for needed relief for these important institutions as part of broader efforts to make certain people can continue to call rural America home."
On Thursday, June 13, 2013, the Senate Banking Committee held a hearing on the health of community banks. The hearing featured testimony from officials at the Federal Deposit Insurance Corporation (FDIC).
VIDEO: Click here for YouTube video of Sen. Moran’s questioning at the Senate Banking Committee Hearing.