Sen. Moran Applauds Passage of Bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act
Mar 14 2018
WASHINGTON — U.S. Senator Jerry Moran (R-Kan.) – member of the Senate Committee on Banking, Housing and Urban Affairs – today applauded Senate passage of the bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act, which includes several Moran provisions.
“This is a good day in the United States Senate – to see us working together, republicans and democrats, to reach a result that will make a difference in our communities,” said Sen. Moran. “The Economic Growth, Regulatory Relief and Consumer Protection Act is important legislation that will make a significant difference to the future of rural America. This is not about taking care of bankers. This is not about taking care of credit unions. It is about taking care of the people they serve – their borrowers. And that means a bright future for the rest of rural America, because access to credit determines whether or not there’s a grocery store in town, a farmer or a rancher can borrow money to keep their business going, or a new couple can purchase a home. I encourage my colleagues in the House to quickly pass this bill and get it to the president’s desk so we can offer much-needed relief to rural America.”
Sen. Moran this month spoke on the Senate floor in support of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act.
Kansas Statements in Support of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act:
Blake Heid, Community Bankers Association of Kansas Immediate Past Chairman
“I’m so pleased that S. 2155 has passed in the Senate and am grateful to Sen. Moran for his support of this vital community bank regulatory relief bill. Many community bank regulations are doing more harm than good here in Kansas. His support of this vital community bank regulatory relief bill will help us continue to do what we do best – serve Kansas consumers while helping our local economy grow and prosper.”
James Nastars, Meritrust Credit Union president and CEO
“Credit unions are focused on helping consumers save, grow, and thrive financially. The passage of S. 2155 by the U.S. Senate brings credit unions and other community lenders one step closer to right-sizing regulation to better serve people in need of financial services while still keeping important consumer protections in place. We thank Senator Moran for his leadership on this important bill, and look forward to putting more funds in the hands of the people we serve in the communities of Kansas.”
Brenda Kliewer, McPherson Co-op Credit Union president and CEO
“As a very small credit union with less than $50 million in assets, we face the same regulations as giant Wall Street banks. By changing the one-size-fits-all regulatory approach currently in place, S. 2155 helps financial institutions serving small town businesses, ranchers and farmers across our state continue to exist and provide needed consumer options. We appreciate Senator Moran and his colleagues in the U.S. Senate for taking this needed step to ensure there are financial options in our rural communities.”
Ron Johnson, Kansas Bankers Association board chairman
“The banks of Kansas appreciate the work of the U.S. Senate and especially Senator Moran for crafting and passing this critical piece of legislation that will allow banks to better serve their customers and communities. S. 2155 will bring much needed relief to an industry that has been severely hampered by regulations since the adoption of Dodd-Frank legislation a decade ago. The legislation is a great step toward ensuring the availability of lending capital for bank customers across Kansas.”