Rounds, Blunt Introduce Bill to Allow Community Banks to Better Serve Rural Areas

Press Release

U.S. Sen. Mike Rounds (R-S.D.), a member of the Senate Banking Committee, and U.S. Sen. Roy Blunt (R-Mo.), today introduced legislation to support and strengthen lending in local communities. The Community Bank Access to Capital Act of 2015 would roll back burdensome financial regulations to make it easier for community banks to serve their customers, who often reside in rural areas with fewer lending options.

"Community banks are the lifeblood of small businesses and economic activity in South Dakota and other rural areas," said Rounds. "Relieving community banks from unnecessary regulatory burdens will increase credit access for South Dakota families across the state. With more than 6,500 community banks in the U.S., the federal government must make sure they are helping -- not hindering -- their ability to grow and support their communities."

"Community banks are an integral part of Missouri's economy and the communities they serve," Blunt said. "These banks often are the primary lenders to small businesses and farmers across the state. The Community Bank Access to Capital Act of 2015 gives our local banks relief from burdensome financial regulations, allowing them to better serve and meet the needs of local businesses which will lead to investment and economic growth in communities in Missouri and nationwide."

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