WASHINGTON – Congressman Robert Pittenger (NC-09) released the following statement after voting in favor of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155).
“For far too long, small businesses and community financial institutions have suffocated at the hands of Washington’s unnecessary and burdensome regulations. In fact, since the passage of Dodd-Frank, North Carolina has lost over 50% of our banks,” said Congressman Pittenger.
“Today we voted to flip the script and cast aside the detrimental status quo. This bill delivers to main street America the most significant regulatory relief in a generation and finally enables local banks and credit unions to effectively fulfill their role as the lifeblood for small businesses and consumer capital. After years of painstaking stagnation caused by onerous federal regulations, relief and economic growth are on the way.”
Congressman Pittenger’s legislation, the Clarifying Commercial Real Estate Loans Act (H.R. 2148), is included in section 214 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155). The Clarifying Commercial Real Estate Loans Act clarifies and improves Obama-era regulations which have created confusion in commercial real estate lending, leading to fewer jobs and slower economic growth.
Editor’s note: The Richmond Observer strives to provide fair and objective coverage of any and all political issues, situations, and/or developments, regardless of party affiliation. As part of this commitment, the Observer is offering this press release for your review. It is also our policy to print news release material in its original format, as it was received, with minimal, if any, editorial adjustments.
