Apr 30, 2018
Freedom Partners Commends House’s Flexibility on Dodd-Frank Reform
Post by Freedom Partners
Arlington, VA – Freedom Partners today strongly commended recent comments by House Financial Services Committee Chairman Jeb Hensarling (R-Texas) that expressed a willingness to consider bipartisan financial regulatory relief legislation approved by the U.S. Senate in March.
Freedom Partners Executive Vice President Nathan Nascimento issued the following statement:
“Chairman Hensarling deserves enormous credit for seeing the big picture on the importance of enacting relief from onerous financial regulations. At the end of the day, what matters most is removing stifling restrictions on American financial markets to fuel more economic growth – not how we get there.
“There is bipartisan consensus in Congress to fix egregious provisions that were ushered in by Dodd-Frank. Small, community lenders have struggled with excessive regulations and compliance costs that ultimately harm consumers. We urge Republicans and Democrats to work together and get Dodd-Frank reform done now.”
Chairman Hensarling recently said he was “certainly open to other pathways” to enact reform legislation, signaling a flexibility that could pave the way for enacting legislation. On March 14, the Senate voted 67-32 to approve theEconomic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), legislation which is now pending in the House of Representatives and which Freedom Partners endorsed.