VIDEO: Capito Urges Support for Regulatory Relief, Consumer Protections Legislation

WASHINGTON, D.C. – U.S. Senator Shelley Moore Capito (R-W.Va.) today spoke on the Senate floor in support of the Economic Growth, Regulatory Relief, and Consumer Protection Act, bipartisan legislation that will provide regulatory relief to community banks, credit unions, and other smaller financial institutions; help small businesses grow; and deliver important consumer protections.
 
“[Smaller financial institutions] play a critical role in a state like West Virginia. Our small businesses rely on them to open and succeed, our communities rely on them to expand, and our economy relies on them to grow—especially in our rural areas,” Senator Capito said. “The Economic Growth, Regulatory Relief, and Consumer Protection Act gives us an opportunity to send a clear message to Main Street, and that is: We support you.”

As Senator Capito explained in her remarks, the Economic Growth, Regulatory Relief, and Consumer Protection Act:

• Provides a balanced regulatory approach that takes into account the differences between larger and smaller financial institutions.
  
  
• Improves access to mortgages for working families and residents in rural communities.
  
  
• Ensures financial regulations are fair and workable.
  
  
• Includes consumer protections for seniors, veterans, and individuals who have gone through tough financial times.
  
  
• Helps student borrowers rehabilitate their federal and private student loans and gives them an opportunity to repair their credit history.
  
  
• Puts in place cybersecurity standards and safeguards to protect sensitive financial information.

For a video of Senator Capito’s full remarks, click here or on the image above.

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