S. 3217 - Restoring American Financial Stability Act

Fresno Chamber Position: OPPOSE

The U.S. Senate is debating Senate bill S. 3217 which aims to reform the nation’s financial system. However, included in this legislation is the creation of a new federal agency the proposed Bureau of Consumer Financial Protection that would place new burdens on businesses that have nothing to do with the financial crisis. This bureau would have the authority to regulate most financial services and products. In its current form, S. 3217 fails to achieve the meaningful financial regulatory reform necessary for vibrant capital markets that is needed to fuel long-term economic growth and job creation.
 

Contact Kerri Ginis, the Chamber's Government Affairs Manager for more information at (559) 495-4818 or kginis@fresnochamber.com