ALBAMA: Regulatory relief for small- and medium-sized banks would sustain more small businesses and help them grow, the chairman of the U.S. Senate Banking, Housing and Urban Affairs Committee said in San Antonio.
U.S. Sen. Richard Shelby, R-Alabama, in May introduced a bill calling for changes in the Dodd-Frank banking reform law that stemmed from the 2008 financial crisis and took effect in 2010.Shelby indicated he does not expect any meaningful changes to be enacted before the 2016 presidential election, stating that future changes “will depend on the makeup of the Senate and House.
”But he didn’t close the door on trying to push through changes that would allow for more lending before then.“If we can get four or five Democrats (in the Senate), you’ll get some relief for small businesses with the help of small- and medium-sized banks. We can chip away at some of the Dodd-Frank provisions Small- and medium-sized banks do not cause systemic risk in this economy.”
