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Wagner: Hard-Working Americans Will Finally Have Better Access to Credit

May 24, 2018
Press Release

WASHINGTON- This afternoon, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) into law. After attending the White House signing ceremony for S.2155, Congresswoman Ann Wagner (MO-02) released the following statement:

“Under the leadership of Chairman Hensarling, our committee has continuously made the case that the former administration’s efforts were not only misguided, but made basic financial services less accessible to small business and low and middle-income Americans. "

“Today, with the President's signature, we repealed harmful Dodd-Frank regulations from the Obama-era, lessening the burdens unfairly put on community banks, credit unions, and the customers they serve.  Hard-working Americans will finally have the access to credit that they deserve. The dream of buying a car, achieving homeownership, expanding businesses, and most importantly, creating jobs, will become a reality for families all across America. Once again, Republicans are delivering on our promise to roll back Washington red tape and promote economic growth in our communities.”

KEY TAKEAWAYS ON S. 2155

  • Exempts community banks and credit unions from burdensome regulations and reporting requirements.
  • Better protects and improves access to credit for main street businesses and hard-working Americans.
  • Rolls back regulations stifling the growth of small businesses and innovation.
  • Protects seniors from financial exploitation.
  • Improves financial literacy for college students.

President Trump Signs the Economic Growth, Regulatory Relief, and Consumer Protection Act