LATEST SENATOR DONNELLY
Washington, D.C. – Today, the Senate Banking Committee passed bipartisan legislation that would reduce regulatory burdens on community banks and credit unions as well as provide new protections to consumers. Donnelly helped craft and introduce the Economic Growth, Regulatory Relief, and Consumer Protection Act and supported its passage in the committee. The legislation now heads to the full Senate for consideration.
Donnelly, a member of the Senate Banking Committee, said in his opening statement today, “This bipartisan banking package is carefully written to provide much-needed regulatory relief for the Main Street community banks and credit unions that have been unintentionally burdened by rules and regs intended to hold Wall Street accountable. Main Street banks and credit unions are vital to economic growth in our communities, particularly in rural areas like we have in many parts of Indiana, where families, farmers, and small businesses often lack access to borrowing…
“Additionally, this proposal includes important new protections for consumers, including veterans and servicemembers…This legislative package demonstrates that this committee, and the Senate as a whole, has within itself the ability to break through gridlock and solve difficult issues if we work together in good faith.”