Congressman Norman Disappointed in Fed Chair Comments
Washington, D.C. – – Congressman Ralph Norman (SC-05) has released the following statement in response to Federal Reserve Chair Janet Yellen’s comments on Dodd-Frank regulations:
"Today, I was disappointed to hear Federal Reserve Chair Janet Yellen’s statement downplaying the harmful effects of Dodd-Frank Act regulations on mortgage lending and small business lending.
“As a member of the Small Business Committee and a small businessman myself, I recognize how the Dodd-Frank Act has hindered the ability of small businesses and middle class American families to access many financial products. Dodd-Frank has impeded the ability of our community banks and credit unions to provide lower and middle class Americans the assistance they need to buy homes and build their businesses.
“The Financial CHOICE Act, passed by the House of Representatives earlier this year, takes critical steps towards easing these burdens on lenders and getting real Americans the support they need to pursue the American Dream."