Minnesota Congressman Works To Help The State’s Credit Unions
Thursday, May 5, 2016
MINNEAPOLIS (WCCO) (May 5, 2016) - Minnesota Congressman Tom Emmer is making a push to help small banks and credit unions in Minnesota.
Emmer said the state has lost a quarter of them since the Dodd-Frank Act went into effect after the Great Recession. This is due in part because they are now subject to the same additional regulations as the big banks.
Emmer’s first bill as a congressman passed the U.S. House last month.
It would give Congress oversight over two government programs that decide which banks are “too big to fail,” and require additional regulations.