S.2155 passed: Thank you for your support!
The House of Representatives have voted and S.2155 has passed.
Below are some of the details about this common-sense approach that helps Oregonians. Thanks to all who contacted representatives for this important effort.
Help meet financial needs of Oregonians and Oregon small business
The U.S. Senate recently passed a comprehensive bi-partisan bill that will strengthen our communities. Now we need the House of Representatives to do the same with a vote that could happen as soon as next month.
S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act
The bill is a common-sense approach to financial regulation. It will adjust thresholds ensuring lending regulations will continue to reign in big banks, while reducing the impact on credit unions and community banks that did not create the 2009 financial crisis.
Supporting bill S.2155 will help Oregonians
The bill creates positive steps to more effectively meet the financial needs of Oregonians and Oregon’s small businesses:
- Make the process of getting local mortgage loans easier and more straight-forward.
- Change the designation of certain multi-unit housing loans, freeing up as much as $4 billion in capital for additional small business lending across the country.
- Advance important elements supporting cyber security and fighting elder abuse, providing greater protections to some of the most vulnerable consumers of financial services.