Moran, Donnelly, Warner

Motion to Proceed to the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155)

Senator Moran: (3:27 p.m)

  • Spoke on Dodd-Frank relief.
    • "If we are successful in passing this legislation in the House, accepting it in its form acceptable to the Senate, signed by the president, this legislation will make a significant and tremendous difference in America, and especially on Main Street, in farms, and in small businesses across the country. A significant component of what I'm about in my work in the United States senate is to try to make certain that my colleagues from places that are not rural understand the rural nature of much of America and understand how we do business and how things get done. And as has been indicated by many of my colleagues in small town America nothing gets done without the support of your local financial institution."

 

Senator Donnelly: (3:40 p.m)

  • Spoke on Dodd-Frank relief.
    • "I want to highlight another provision I authored on manufactured housing, which serves as a vital source of affordable housing, not only in Indiana, but across our country, particularly in rural and underserved communities. This effort provides a narrow exemption to allow consumers to receive general financing informing from a manufacturer while creating new disclosures which would prohibit conflicts of interest and prohibit retailers from their financial transactions. This legislation has broad bipartisan support. It maintains strong financial oversight and it adds new consumer protections."

 

Senator Warner: (3:48 p.m)

  • Spoke on Dodd-Frank relief.
    • "He said that the regional banks will continue to be subject to the most important enhanced standards, meaningful, strong, and frequent stress tests. His words, not mine. He called himself a strong believer in stress testing. Let me again say so am I. Critically this bill, again, does not change the existing requirement for the fed to conduct annual stress tests on banks larger than $250 billion. I know I'm getting into a lot of details, but the details in banking regulations are important, and again, unfortunately, some of my colleagues in opposition to the bill I don't think are setting out what this bill truly does and doesn't do. Let me put out another point, again on stress test."