Mike Mercer: Congress Needs to Act on Regulatory Relief for Small Community Financial Institutions
Mar. 6, 2018
In Georgia, credit unions and community banks help our communities thrive. In those communities the primary lenders are credit unions and community banks. But the local financial institutions are facing challenges brought on by Washington bureaucrats. Now’s the time to loosen the regulatory restrictions that are limiting their ability to help their communities.
That’s why a group of Senators from both sides of the aisle have put together a common-sense piece of legislation that delivers on what it promises: to better allow credit union and community banks to serve consumers. The common-sense fixes in S. 2155, the bipartisan Economic Growth bill, would be a boon to Main Street while retaining tough protection for consumers from Wall Street.
Provisions in this bill would ease mortgage lending and free up capital for small businesses, two essential ways to grow an economy that has suffered from both a financial crisis and the regulations put in place in response to it.