Holding Company Registration Threshold Equalization Act of 2013

Floor Speech

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Mr. SCHNEIDER. Mr. Speaker, I rise today in support of H.R. 801, the Holding Company Registration Threshold Equalization Act. This simple, bipartisan measure ensures consumers and businesses--the drivers of our economy--have access to the capital they need.

The JOBS Act gave small community banks flexibility to raise capital without being required to comply with regulations specifically intended for the larger financial institutions that were responsible for the 2008 financial crisis. This was a positive change that injected much-needed capital into our local economies. However, the legislation did not specifically extend it to small savings and loans holding companies.

It is important that we now put the savings and loans on par with our banks, retaining the equity and diversity conducive to the health of our banking system. By putting additional capital in the hands of our local savings and loans, we are helping consumers who are looking for home loans, our neighbors who are starting small businesses, and small businesses that are continuing to invest in their future.

This may be a technical correction, but it remains a correction that has significant beneficial implications for our communities and for our continued economic recovery.

I ask my colleagues to join me in support of this measure.

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