Roger Williams: Main Street America is hurting like I’ve never seen it hurt before

WASHINGTON, D.C. – Congressman Roger Williams (R-Texas), a small business owner, last week joined his colleagues on the Financial Services Committee to speak out against the Dodd-Frank Wall Street Reform and Consumer Protection Act on the floor of the U.S. House of Representatives.

"I am a small business owner. I've owned my own business for 44 years. I've been through a lot. I've been through dollar gasoline. I've been through 20 percent interest. I've been through the slowdown of '88. I've been through 9/11. I must tell you, the economy we're in now, Main Street America is hurting like I've never seen it hurt before."

Williams recently introduced the Community Financial Institution Exemption Act which would require the Consumer Financial Protection Bureau (CFPB), a product of Dodd-Frank, to explain to community banks and credit unions why they are not exempted from certain CFPB rules and regulations as permitted by law.

Last week, Financial Service Committee members Williams and Rep. Randy Neugebauer (R-Texas) published an op-ed in American Banker and argued that Dodd-Frank has resulted in the closure of community financial institutions, which are responsible for 51 percent of small business loans.

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