We've been in the business of regional banking, and we understand what it is to make loans, and that's the engine of growth to small and medium sized business.
I mean, Dodd-Frank is strangling small community banks. It doesn't make any difference what the interest rate is. They're not - they're not going to loan the money because they can't make any money for one thing plus the cost of compliance.
Democrats are ready, willing, and able to provide regulatory relief for community banks and credit unions.
We need a new British business bank with a clean balance sheet and an ability to expand lending rapidly to the manufacturers, exporters and high-growth companies that power our economy. Today I can announce we will have one.
The Small Business Lending Fund was cleverly named by its authors last Congress. Since its implementation, however, it would appear a more appropriate name would be the Bailed Out Bank Refinancing Fund.
We started CapitalSource because large banks were ignoring small to mid-sized businesses, and we saw a big business opportunity as a result.
Dodd-Frank has disproportionately burdened community banks, despite their having no role in the financial crisis.
My colleagues on the Board of Governors and I understand the value of having a diverse financial system that includes a large and vibrant contingent of community banks.
There's another way we are getting behind business - by sorting out the banks. Taxpayers bailed you out. Now it's time for you to repay the favour and start lending to Britain's small businesses.
Congress can protect small businesses by providing effective oversight over SBA policies and make sure they take into account the needs of small businesses while also protecting taxpayer dollars. Congress also needs to make sure that new banking regulations do not make it more costly for community banks to lend to small businesses.
