This bill is targeted towards small community banks and credit unions. They’re the ones who do the majority of small business & agricultural lending, and this is going to make a huge difference for rural Virginia.https://twitter.com/lifesafeast/status/971773527962595328 …
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As Fed Chair Jay Powell testified recently, these changes will not undermine the Fed’s authority to regulate regional banks, and the Fed will continue to provide strong oversight of these institutions.https://www.warner.senate.gov/public/index.cfm?p=PressReleases&id=AEA7E35A-A85B-4BA8-A2E9-14F93B7AF189 …
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So if you’re concerned about consolidation in the banking sector and the threat that poses to the stability of our financial system, you should support this bill.
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If you’re concerned about rural banks closing up or consolidating into bigger banks, you should support this bill.
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When I say this bill is about
#Relief4MainStreet, I mean it. The sponsors of this legislation have worked hard to make sure this bill stays focused on the community banks, credit unions, and regional banks.https://www.bloomberg.com/news/articles/2018-03-08/wall-street-shut-out-in-senate-s-latest-rewrite-of-banking-bill …Show this thread
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More than a dozen VA counties will lose >1/3 of mortgage loan quality data in this bill. We need to know when bad or discriminatory loans are made by small lenders. Strike Sec 104!
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I'm going to try and trust you on this but it's got potential for great abuse. I would feel much better if the threshold was much lower. Also, if you let them put more access to dark money in the next spending bill, all bets are off.
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Dude...you’re stuttering in your speech. Hard to spit out those Wall St. lies, huh?
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Warner is misrepresenting this bill. The bill would deregulate banks with between $50 and $250 billion market caps -all of them large cap banks ("large cap" being greater than $2 billion by definition).We're talking about very large banks. https:http://www.washingtonpost.com/news/wonk/wp/2018/03/05/senate-banking-bill-would-boost-the-chances-of-more-bank-bailouts-cbo-report-says/?utm_term= ….
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