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Westerman Votes for Systemic Risk Designation Improvement Act

December 1, 2016
Press Release

WASHINGTON – Congressman Bruce Westerman (AR-04) released the following statement upon passage Thursday (December 1) of H.R. 6392, the Systemic Risk Designation Improvement Act:

“The Dodd-Frank Act was intended to prevent another near-collapse of America’s financial system. Instead it has made it harder for banks to lend to consumers and harder for consumers like the residents of Arkansas to get a loan for a house, car, or their business,” Westerman said. “Much of the problem has been a result of the bill’s decision to treat most banks the same regardless of size. I voted Thursday for the Systemic Risk Designation Improvement Act because all banks are not created equal. This legislation would fix Dodd-Frank’s attempt to measure small banks by the same standards as trillion dollar banks. It is a fix that is right for our financial system and just the start of our efforts in the House to reverse eight years of the Obama Administration’s attempts to overregulate our nation’s economy.”