Financial and Housing IndustriesJune 8, 2012
As a member of the House Financial Services Committee, I fight daily to fix our financial and housing industries. When the market crashed in 2008, it was on the backs of many community banks who suddenly found themselves failing through no fault of their own but rather due to over-regulation by agencies like the Federal Deposit Insurance Corporation (FDIC). Community banks are often the life-blood of small communities and when they fail, capital throughout the entire community can completely dry up.
My legislation, H.R. 2056, was signed into law in early 2012 and requires a study into the practices and procedures of the FDIC to determine whether they have helped or harmed smaller banks trying to recover from 2008. I am proud to serve on this important committee and will continue to serve as the voice of the community bank in Congress.