{"database": "press", "table": "releases", "rows": [["http://www.fischer.senate.gov/public/index.cfm/news?ID=d2b3db68-46f1-42db-b353-424f9c67e4fb", "Fischer, King Urge Senate Committee to Provide Regulatory Relief for Community Banks", "2014-09-10", "2014", "2014-09", "Republican", "House", "NE", "Deb Fischer", "F000463", "www.fischer.senate.gov", null, null, "legacy", "WASHINGTON, D.C.\u00a0\u2013 In advance of a Senate Banking, Housing and Urban Affairs Committee Hearing next week on the state of small banks in the United States, U.S. Senators Deb Fischer (R-Neb.) and\u00a0Angus King (I-Maine) today urged Committee Chairman, Senator Tim Johnson (D-S.D.), and Ranking Member, Senator Mike Crapo (R-Idaho), to provide relief to America\u2019s community banks struggling under the weight of shortsighted regulations. King and Fischer are authors of the RELIEVE Act, legislation to provide immediate regulatory relief to America\u2019s small financial institutions, like community banks and credit unions, that will help them to better serve their communities.\u00a0\r\n\u201cWe wish to express our support for the need to provide regulatory relief to America\u2019s community banks. \u2026As you know, these financial institutions are vital to our communities: they provide access to credit for small businesses, work with borrowers who have special housing needs with properties that don\u2019t fit conventional financing, and bolster local economies,\u201d\u00a0Senators King and Fischer wrote.\u00a0\u201cAs a result of increasing regulatory burdens, mergers and consolidations have increased, new charter activity has come to a virtual standstill; and community banks\u2019 share of total industry assets have declined. We believe this heightened regulatory environment impedes banks\u2019 ability to be strong sources of credit for their customers, especially in rural and undeserved areas. \u2026Without immediate relief for community banks to reduce the current regulatory burden, unhealthy consolidation of the banking industry may occur at a rapid rate.\u201d\r\nNext Tuesday, September 16th, the Senate Committee on Banking, Housing and Urban Affairs will hold a hearing entitled, \u201cExamining the State of Small Depository Institutions.\u201d\r\nIn July, Senators King and Fischer, along with Senators Mark Warner (D-Va.) and Jon Tester (D-Mont.), introduced the RELIEVE Act to aid smaller financial institutions struggling with onerous regulations. The bill would help lift the regulatory burden by modernizing outdated regulations, making technical corrections to the Dodd-Frank Act, and providing parity for credit unions with regard to insurance coverage of lawyer trust accounts and other escrow accounts. It\u2019s supported by the U.S. Chamber of Commerce, the American Bankers Association, and the Credit Union National Association.\r\nThe complete text of Senator King\u2019s and Senator Fischer\u2019s letter is below:\r\n\u00a0\r\n+++\r\nSeptember 10, 2014\r\n The Honorable Tim Johnson\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The Honorable Mike Crapo  Chairman \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Ranking Member  Committee on Banking, Housing, \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Committee on Banking, Housing, and and Urban Affairs\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Urban Affairs  United States Senate\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 United States Senate  534 Dirksen Senate Office Building \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 534 Dirksen Senate Office Building  Washington, D.C. 20510 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Washington, D.C. 20510 \u00a0 \u00a0\r\nDear Chairman Johnson and Ranking Member Crapo,\r\n\u00a0As the U.S. Senate Banking, Housing, and Urban Development Committee prepares to hold a hearing in September, we wish to express our support for the need to provide significant regulatory relief to America\u2019s community banks.\r\n\u00a0In the aftermath of the financial crisis, we agree it is very important to determine the state of community banking in the United States. As you know, these financial institutions are vital to our communities: they provide access to credit for small businesses, work with borrowers who have special housing needs with properties that don\u2019t fit conventional financing, and bolster local economies. As a result of increasing regulatory burdens, mergers and consolidations have increased; new charter activity has come to a virtual standstill; and community banks\u2019 share of total industry assets has declined. We believe this heightened regulatory environment impedes banks\u2019 ability to be strong sources of credit to their customers, especially in rural and underserved areas.\r\n\u00a0Stories of frustration from our local bankers \u2013 countless examples of burgeoning compliance staffs, onerous examinations, and the loss of valuable resources as the burden of managing regulatory responsibilities continues to increase \u2013 must be taken seriously. Without immediate relief for community banks to reduce the current regulatory burden, unhealthy consolidation of the banking industry in the United States may occur at a rapid rate.\u00a0\r\n\u00a0We thank you for holding this hearing and urge you to markup legislation to identify and reduce the regulatory policies that restrain community bank lending and local economic growth.\r\n\u00a0Sincerely,\r\nAngus S. King, Jr.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0  Deb Fischer \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\r\nUnited States Senator \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 United States Senator", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["http://www.fischer.senate.gov/public/index.cfm/news?ID=d2b3db68-46f1-42db-b353-424f9c67e4fb"], "units": {}, "query_ms": 0.8797547779977322, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}