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Rep. Mia Love’s lending bill signed into law

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Posted at 4:06 PM, May 24, 2018
and last updated 2018-05-24 18:06:53-04

WASHINGTON —  President Trump has signed a bill introduced by Utah Congresswoman Mia Love.

H.R. 4771, The Small Bank Holding Company Relief Act, makes it easier for small banks to lend money in their communities, a news release from Love’s office said.

“Our bill is a tribute to the hard work and bipartisan cooperation in both the House and the Senate. This bipartisan package will strike a balance between ensuring a safe and sound banking system and promoting economic growth.  They will untangle financial regulations from their hold on our economy, and bring common sense and financial opportunity back to Utah and the rest of the nation,” a statement from Rep. Love said.

In February, Rep. Maxine Waters of the U.S. House Committee on Financial Services made a statement in opposition to the bill, saying it would “roll back appropriately tailored policies to regulate the financial services sector that ignores the hard-learned lessons of the catastrophic 2008 financial crisis.