March 14, 2018

Young Applauds Passage of Dodd-Frank Reform Bill

WASHINGTON, D.C. – U.S. Senator Todd Young (R-Ind.) today applauded passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act, S.2155, which passed the Senate on a 67-31 vote.

Voting for this bill was a no-brainer,” said Senator Todd Young. “Small businesses employ nearly half of the private workforce in Indiana, and these small business rely on credit unions and community banks to expand and hire more workers. Reforming the one-size-fits-all regulations that have crippled small lenders under Dodd-Frank will help accelerate job creation and economic development in Indiana.”

This legislation reforms regulations that subject small community lenders to the same regulatory and compliance demands as big Wall Street banks, which harms creditworthy businesses and individuals. It also includes important consumer protections for veterans, senior citizens, victims of fraud and people who fall on tough financial times.

Click here to see what Indiana community lenders, small banks, and credit unions are saying about the Economic Growth, Regulatory Relief, and Consumer Protection Act.