Why Tester’s banking bill is right for Montana
March 23, 2018
Banks and credit unions don’t always agree on much, but they agree on this: Sen. Jon Tester stood up for Montana’s communities, and their small banks and credit unions, when he helped author a bipartisan bill to provide regulatory relief to certain financial institutions.
The Dodd-Frank Act was a one-size-fits-all congressional response to the 2008 financial crisis designed to address the risky decisions made by “Too-Big-To-Fail” Wall Street banks. It was 2,300 pages long and created more than 400 new regulations. These regulations were designed for Wall Street Banks, but also applied to small banks and credit unions in Montana that had nothing to do with the financial crisis.