Allen Praises Senate for Passage of Legislation Rolling Back Dodd-Frank

Statement

U.S. Congressman Rick W. Allen (GA-12) released the following statement after the U.S. Senate passed S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, legislation that makes strides towards rolling back harmful regulations of the Dodd-Frank Act on small and mid-size banks. The House of Representatives passed similar legislation last year.

"President Obama's cornerstone financial legislation, the Dodd-Frank Act, has been a tremendous setback for our financial sector and our local community banks. The Dodd-Frank Act imposed more regulations than every other Obama administration law combined, and yesterday, the Senate took a major step towards alleviating these regulations. We did our work in the House last year when we passed the Financial CHOICE Act, and it is high time that we allow our community banks to get back in the business of lending. The next step in the legislative process is to bring these two bills to conference, allowing the House and Senate to hammer out any differences before sending it to the President's desk."

S. 2155 passed the Senate by a vote of 67-31, in a bipartisan manner.

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