[Congressional Record (Bound Edition), Volume 163 (2017), Part 6]
[House]
[Page 8832]
[From the U.S. Government Publishing Office, www.gpo.gov]




             BRINGING ECONOMIC OPPORTUNITY TO ALL AMERICANS

  (Mr. ALLEN asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. ALLEN. Mr. Speaker, I rise today to urge my colleagues to join me 
in support of the Financial CHOICE Act. Financial Services Committee 
Chairman Jeb Hensarling's bill aims to bring economic opportunity to 
all Americans.
  After Speaker Pelosi and House Democrats passed the Dodd-Frank Act of 
2010, dozens of small community financial institutions in my district 
were forced to close or merge with big banks. In fact, my State of 
Georgia has lost more than 40 of these institutions over this period of 
time. This was due to the unbelievable complexity and compliance costs 
of the regulations imposed on them.
  With the Financial CHOICE Act, community banks will finally be able 
to get some relief from these regulations. As a businessowner myself, I 
know how important access to capital can be for a new business. We know 
that 70 percent of all new job creation is created by the growth of 
small business.
  Once these banks are able to get back to the business of lending, my 
hope is that it will spur small-business growth and entrepreneurship in 
my district and across this great Nation.
  This legislation also ends taxpayer-funded bailouts once and for all, 
finally fulfilling the promises that Democrats failed to keep.
  And did I mention it reduces the deficit by $33.6 billion over 10 
years?
  President Trump has asked us to do a number on Dodd-Frank, and I 
support him in this endeavor, and believe the Financial CHOICE Act does 
just that.

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