U.S. Chamber President Praises Senate Passage of Bank Relief Legislation

Wednesday, March 14, 2018 - 6:30pm

WASHINGTON, D.C. — U.S. Chamber President and CEO Thomas J. Donohue issued the following statement today in response to U.S. Senate passage of S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act,” which will alleviate regulatory burdens for America’s local and community banks:

“It can be tough to achieve anything on a bipartisan basis these days, but members of the U.S. Senate proved today that helping small businesses and boosting economic growth are goals we can all get behind.

“This legislation will bring a long-awaited respite to Main Street businesses across America whose growth has been stifled in the post-crisis regulatory era. It’s a commonsense solution brokered through collaboration and compromise that ensures businesses have access to the loans and other financial services they need to get off the ground, create jobs, and expand.

“Most importantly, it’s a reflection of a spirit of cooperation that is too often lost in Washington, D.C.; a spirit we need to see more often in order to make meaningful progress on a host of issues that matter for our economy.

“We appreciate the work of the House Financial Services Committee, which passed several bills that helped provide the foundation for this effort, and we applaud the senators – Republican and Democrat – who voted in favor of unleashing the power of America’s small businesses. We urge the House to quickly bring up this bill for consideration.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.