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Congresswoman Joyce Beatty

Representing the 3rd District of Ohio

Statement on the Economic Growth, Regulatory Relief, and Consumer Protection Act

May 24, 2018
Press Release

Statement on the Economic Growth, Regulatory Relief, and Consumer Protection Act

WASHINGTON, D.C.—Today, President Donald J. Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act, S. 2155. In response, U.S Congresswoman Joyce Beatty (OH-03) released the following statement:

“I voted against the bill because it includes two particularly damaging provisions. The first significantly weakens a key tool used by regulators to identify and root out discriminatory and predatory lending practices like redlining—which plagued this country for too long—and the other harms veterans by jeopardizing their credit score and financial future. Although many financial institutions are excellent stewards for their customers and in the community, I know firsthand what it is like to be treated differently and excluded.

That does not mean that everything in the underlining bill is bad, on the contrary. In fact, there are several provisions in the bill that I have long championed including providing regulatory relief for regional and community banks so that they can better serve their customers and be economically competitive. Unfortunately, those important victories pale in comparison to the potential negative consequences this bill creates for countless Americans—especially communities of color.”   

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