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Tuesday, February 24, 2015

Neugebauer Highlights Hometown Costs of Reg Burden

Rep. Randy Neugebauer (R-Texas), who chairs the House subcommittee on community financial institutions, published an op-ed showing how “overregulation” and the Dodd-Frank Act have harmed communities like his hometown of Lubbock. He described his early career experience as a community banker — and how his bank “took a risk on me” when he started and grew a small business. Neugebauer wrote:

Today, as I look back on that business model and my own experiences, I see a very different landscape for community financial institutions and the health of our overall economy. I meet with community bankers who can’t make loans they once did, and speak with those dreaming of owning their own business who now can’t access the financial products that helped others get their start.

In the op-ed, he advocated for targeted fixes to Dodd-Frank to make it easier for community banks to serve their customers and rebutted recent comments by Sen. Elizabeth Warren (D-Mass.) that community banks “are doing better than ever” under Dodd-Frank.

Read the op-ed.

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