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Williams Casts Vote for Community Banks

May 22, 2018

WASHINGTON, DC – U.S. Congressman Roger Williams (R – Austin), who serves as a vice chairman on the House Committee on Financial Services, released the following statement after the House passed S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act:

"After years of hard work with my colleagues on the Financial Services Committee, I am proud to have cast my vote in favor of S. 2155. Over half of the provisions in this bill originated in our committee and I am glad to see Congress cutting through the red tape in order to give community banks, credit unions, small businesses and, most importantly, the American consumer, much needed relief. We can and must do more to rein in federal government overreach, and I will continue working with both Chambers to roll back burdensome regulations in order to allow Main Street to breathe again."

Earlier, Williams took to the House floor to speak in favor of S. 2155. Remarks are below:

"Mr. Speaker, I rise today in strong support of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, which passed the Senate with bi-partisan support last month.

"This important legislation stems from years of consideration, hearings, markups, and floor votes in the House, coupled with a bi-cameral commitment with the Senate Banking Committee to deliver relief for the American people.

"More than half of the 53 provisions included in S. 2155 originated in the House Financial Services Committee, and I applaud the Chairman throughout this lengthy process.

"Right now, small community banks cannot keep up with the oppressive regulations that are reluctantly forcing so many to close their doors.

"As I've said time and time again, the practice of one-size-fits-all does not, and should not, apply to financial institutions.

"In order to unleash our economic potential, Congress must act now to repeal unnecessary regulations while properly tailoring those we need.

"Mr. Speaker, S. 2155 will finally provide the relief for our community banks by cutting through the red tape. In turn, small businesses and the American consumer will now have better access to credit, encouraging more economic growth and consumption.

"Make no mistake, this economy is roaring. I've been in business for 47 years and I know what I'm talking about.

"I am proud to join my colleagues in support of this bipartisan and bicameral legislation and looking forward to President Trump's signature as soon as possible.

"In God we trust, I yield back."

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Issues:Economy