Tipton bill aims to ease burdens on small banks

Scott Tipton

A measure aimed at reducing the regulatory burden on community banks passed the House Financial Services Committee on Wednesday.

The measure by U.S. Rep. Scott Tipton, R-Colo., passed the same committee as a standalone measure and is now included in a larger package of bills contained with H.R. 5983, the Financial Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs (CHOICE) Act of 2016.

The package of measures would reduce what sponsors call burdensome federal regulations that have crippled community banks and credit unions as a result of the Dodd-Frank Act of 2010.

“The Dodd-Frank mandates were never meant to be applied to community banks and credit unions, and yet they were implemented in a one-size-fits-all fashion,” Tipton said. His original measure, called the “TAILOR Act,” H.R. 2896, would require federal regulators to take into account business models and risk profiles when structuring rules for financial institutions. Agencies also would be required to consider whether institutions have the resources available to comply with proposed regulations

The Financial CHOICE Act next goes before the full House.


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There is no doubt that “small banks” are having a difficult time competing against financial behemoths.  But, instead of addressing the cause, Mr. Tipton is (as so many do) addressing only the symptoms.  The problem, Mr. Tipton is not the small banks, but the size of the big banks, something which Mr. Tipton lacks the courage to challenge.  Mr. Tipton would rather ignore that, and take the opportunity to portray himself as the “champion of the little guy.”

Were Mr. Tipton more acute in his thinking (and probably more honest) he would recognize and admit, that the near collapse of not only the United States economy but world economies, were a direct consequence of the efforts of these large financial institutions to de-regulate everything;  i.e. to create a totally anarchic economy, something which has been his mantra, and that of his political party for decades, and even generations.  So, it is the huge financial institutions that caused the problem and which resulted in the demands on small banks.

Perhaps Mr. Tipton needs to give the matter considerably more thought and look for causes;  i.e. Who and what caused the problem in the first place and address those, instead of limiting himself only to symptoms. 

It is doubtful that he will as that might lead him to the conclusion that he, and the beliefs he has held, were wrong to begin with.  That would take far more courage than he apparently has, as is true of all too many in or out of political office.

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