The Senate Banking Committee recently accomplished something rare: passing a bill developed by Republicans and Democrats on a bipartisan basis. Designed to tailor financial services regulations to ease the burden of red tape on locally based community banks like Three Rivers Bank of Montana, the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) passed with support from senators from both parties and can now head to the Senate floor for a vote.
Partisanship has taken hold of our political lives from Washington to right here in Northwest Montana. Despite all the political ill will, there appears to be one issue that Republicans and Democrats can agree on—promoting local economic growth through our nation’s community banks.
Washington doesn’t seem to agree on much. But the fact that more than 20 senators from both sides of the aisle have signed onto a recently proposed bill shows that regulatory relief isn’t a Democrat versus Republican issue, it’s a Main Street versus Wall Street issue.
In Nebraska, credit unions and other community financial institutions help our communities to thrive and our small businesses to grow.
Unfortunately those most vulnerable in our society are often the most common targets for financial scammers. A prime example of this is our country’s senior citizen population, which is a particularly large population here in New Hampshire.