Cotton Addresses Northeast Arkansas Bankers Luncheon

Press Release

U.S. Senate Candidate Tom Cotton was in Jonesboro Friday to meet with Northeast Arkansas bankers at a luncheon in Jonesboro. Cotton focused his remarks on Dodd-Frank's misguided policies and its devastating impact on Arkansas's community banks. Bankers in Jonesboro and across Arkansas remain overwhelmingly opposed to this unworkable law, which brought 400 new mandates and created vast new bureaucracies in our already complex financial system.

Cotton discussed his work with the Financial Services Committee and his votes in Congress to both repeal Dodd-Frank and save Arkansas's community banks from the law's worst effects. He promised to continue his fight against this terrible law in the United States Senate. Senator Pryor, on the other hand, not only voted for Dodd-Frank, but has acknowledged that his vote was bad for Arkansas. In an interview last year, Pryor said:

"Some [bankers] are still frustrated with me, no doubt about it. They feel like some of the reforms were aimed at them where they didn't need reform. And I actually agree with some of that, because this was a big bill. I actually tried to take some things out--I lost--but in the end, I still ended up voting for the bill." -- Capitol View

What Senator Pryor isn't saying is he ended up voting for the bill because President Obama asked him to tow the party line. And just as he does 93 percent of the time, Senator Pryor put President Obama, not Arkansas, first.

"Dodd-Frank is the financial equivalent of Obamacare and it's similarly doing more harm than good," said Tom Cotton. "And thanks to Senator Pryor's vote for this law, there are fewer community banks in Arkansas serving the needs of small businesses, farmers, and families, resulting in fewer financial products and services being offered, and at a higher cost."

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