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News & Press: WIPP Legislative Updates

House Small Business Committee Finds Dodd-Frank Impacts Harmful

Monday, September 28, 2015  
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WIPP Policy Briefing

September 28, 2015

 

House Small Business Committee Finds Dodd-Frank Impacts Harmful

 

The House Committee on Small Business held its first hearing since returning from August recess. The hearing addressed how the regulations stemming from the Dodd-Frank Act have affected small lenders and their ability to provide small businesses with critical capital.  Witnesses at the hearing spoke to the increased administrative and regulatory costs to small and community banks and credit unions that Dodd-Frank has imposed.

 

Access to private capital, including bank loans, is a primary concern to women entrepreneurs as women-owned small businesses receive only 4% of private sector lending dollars. Additional regulatory burdens could be exacerbating this problem.

 

WIPP’s Access to Capital Platform has cited Dodd-Frank’s regulations as a contributing factor to the decrease in small businesses lending. Capital access is a lifeline for small businesses. It is essential for entrepreneurs to have access to sufficient capital to found and grow businesses.

 

WIPP, in its Access to Capital Platform, urges the Congress to take a different regulatory approach for small banks than Dodd-Frank, which is a one-size fits all approach. Although the Senate Banking Committee passed legislation to give small banks relief earlier this year, the bill remains highly partisan due to changes for large banks contained in the bill.

 


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