PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Advocate for Entrepreneurs and Small Businesses Lauds Signing of Bank Reform Bill by President Trump

By at 24 May, 2018, 12:30 pm

NEWS

FOR IMMEDIATE RELEASE 

Washington, D.C.  The following statement can be attributed to Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan in regards to today’s signing of the “Economic Growth, Regulatory Relief and Consumer Protection Act” (S.2155) by President Trump:

“Access to capital remains a challenge for many entrepreneurs and small businesses and they need this fuel to take advantage of growth opportunities in the expanding economy. S. 2155 fixes Dodd-Frank’s overreach on small to mid-size banks that had nothing to do with the financial crisis but were burdened by excessive and inappropriate red tape and regulation. In the end, this overregulation hurt small business lending. S. 2155 is a sensible solution that lifts inappropriate mandates, and will serve to improve lending to small businesses. It is very positive to see the Congress working on a bipartisan basis to right-size regulation for our financial institutions. This legislation, once signed into law, will enable regional and community banks to more effectively direct more of their resources and capital toward serving their local communities and small businesses,” said Kerrigan.

Kerrigan lauded House and Senate leaders for their bipartisan work, especially the efforts of House Financial Services Committee Chairman Jeb Hensarling (R-TX), who jumpstarted this important bill along with a host of other bipartisan reforms to improve capital formation in the United States.

“Chairman Hensarling’s leadership on this critical issue and others related to capital formation and access is making a significant difference for the health of U.S. entrepreneurship and small business growth. He is very passionate about getting capital to promising small businesses and entrepreneurs and we look forward on advancing other initiatives that have already passed the House on a wide, bipartisan basis,” said Kerrigan.

See SBE Council’s support letter for S. 2155 here.

Related content:

The 2018 Policy Agenda for Entrepreneurs and Small Businesses: Access to Capital

Kerrigan in The Hill: Shaping Financial Rules Helps Main Street, Not Wall Street

Access to Capital: Congress Must Find a Path Forward on Bipartisan Bills

 

CONTACT:

Karen Kerrigan, kkerrigan@sbecouncil.org,

703-242-5840 

SBE Council is a nonpartisan, nonprofit advocacy, research and education organization that works to protect small business and promote entrepreneurship. For nearly 25 years SBE Council has worked to successfully implement a range of policy and private sector initiatives to strengthen the ecosystem for startups and small business growth. To learn more, visit SBE Council’s website: www.sbecouncil.org. Follow on Twitter: @SBECouncil

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