Congressman Canseco's Opening Statement from the Subcommittee on Financial Institutions and Consumer Credit Hearing

Washington, DC:  Congressman Francisco “Quico” Canseco (TX-23), a former small businessman and member of the House Financial Services Committee, made the following statement on the Dodd-Frank Act regulations’ impact on small banks’ lending and investment activities:

 

“Thank you madam chair, and thank you for holding this very important hearing.  Back in March this subcommittee held a hearing in San Antonio to examine the challenges facing community financial institutions throughout Texas.  One of the witnesses at the hearing, a community banker from El Paso, summed it up best.  He explained that in his previous life as an Army commander of a top-performing nuclear combat outfit, he felt that his crew – which had the capability and firepower to trigger the end of the world – operated with greater discretion and wasn’t nearly as micromanaged as his loan officers in El Paso now are, as they extend credit to families and businesses in West Texas.” 

 

“I guess you can say we’re officially living in a Dodd-Frank World.  Despite all the assurances we’ve heard that Dodd-Frank will not impact small lenders, every day we are reminded that is simply not the case. Thank you and I thank you for holding this hearing  and I look forward to hearing from the witnesses.” 

 

To schedule an interview please contact Kyler Arnold at (202) 225-4511 or Kyler.Arnold@mail.house.gov