[Congressional Record Volume 164, Number 43 (Monday, March 12, 2018)]
[Senate]
[Pages S1617-S1618]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    ECONOMIC GROWTH, REGULATORY RELIEF, AND CONSUMER PROTECTION BILL

  Mr. McCONNELL. Madam President, on another matter, later this 
afternoon the Senate will vote to advance the financial reform bill 
that is before us.
  Senator Crapo's legislation starts from a simple premise: Small 
community lenders on Main Street are not the same as the multi-
trillion-dollar banks on Wall Street. But since the Dodd-Frank Act 
passed in 2010, too many regulations have treated all of them the same 
and imposed a crushing burden on community banks that are not able to 
bear it.
  A small number of our colleagues in the Senate seem dead set against 
any commonsense reforms to help these smaller institutions. They are 
dusting off old arguments and predicting apocalyptic consequences from 
even this modest set of reforms. That is a shame because when small 
lenders shut their doors, communities throughout America pay the price. 
Even in this online era, research tells us that the closure of physical 
banks makes it harder for farmers, ranchers, small business owners, and 
low-income families to access capital. This story has played out 
thousands of times across the country.
  The legislation before us would restore a community lenders' ability 
to

[[Page S1618]]

provide credit without having to navigate a maze of regulation that was 
designed for far bigger organizations.
  This commonsense bill has earned the support of a wide bipartisan 
coalition. I would urge all Members to join us in moving it forward 
this afternoon.

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