Financial Services

Financial Services issues affect us all and how they are dealt with is important to my work in Congress.

Kansans need a community banking system we can rely on to support our agriculture, small business and housing needs. National banks will not be opening branches in small town Kansas any time soon, but our community financial institutions have a proven record of dedication to our rural economy.

The regulatory response from Washington, DC after the financial crisis caused by Wall Street bankers and speculators, and the lax housing policies of government-controlled Fannie Mae and Freddie Mac, is hurting main street Kansas. In addition to thousands of pages of restrictive rules and regulations from the Dodd-Frank law, the Consumer Financial Protection Bureau is pushing a regulatory scheme that makes it harder and harder for Kansas banks to make loans to long-time customers. Federal regulators seem no longer interested in helping local banks and credit unions comply with the law, instead they appear intent on enforcing an arbitrary set of standards meant for New York City, not Dodge City.

I have voted to repeal the Dodd-Frank law. I have co-sponsored and voted for legislation to delay or repeal the most onerous portions of Dodd-Frank. And, I have signed letters to regulators asking them to implement Dodd-Frank in a way that is more favorable to small, community financial institutions.