It reduces further concentration in the banking system. And I would think, Mr. Speaker, we would want that. But it appears that some on the other side do not. This package makes it easier to form new banks, strengthens local funding and liquidity. and it helps community lenders put more deposits to work financing homes, small businesses and entrepreneurial dreams. At a time when Americans are struggling with everyday expenses, Washington should not make credit more expensive through needless REN tape. (01:30–01:36)
CLAIM
Asserts that the package facilitates the formation of new banks and strengthens local funding and liquidity.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
