Discussion · House of Representatives
James C. Moylan Republican
“I support this bill. It cuts regulations for small, rural, and new banks so they can better help local businesses in places like Guam.”
“Mr. Speaker, I rise today in support of H.R. 6955, the Main Street Capital Access Act. When the people of Guam set out to enterprise new business ventures, we turn to our community banks to raise capital. However, much of America’s financial system is not designed with small businesses in mind. While big banks have the resources to cut through red tape, small community ventures often struggle to comply with a regulatory regime that never had them in mind. The Main Street Capital Access Act makes commonsense reform, tailoring regulations so small lenders can comply, while opening more resources to the new banks, small banks, and rural banks which serve communities like Guam. This bill will give the Guam business community a fair chance, and I thank the Financial Services Committee for their work on this legislation.”
Mr. Speaker, I rise today in support of H.R. 6955, the Main Street Capital Access Act. When the people of Guam set out to enterprise new business ventures, we turn to our community banks to raise capital. However, much of America’s financial system is not designed with small businesses in mind. While big banks have the resources to cut through red tape, small community ventures often struggle to comply with a regulatory regime that never had them in mind. The Main Street Capital Access Act makes commonsense reform, tailoring regulations so small lenders can comply, while opening more resources to the new banks, small banks, and rural banks which serve communities like Guam. This bill will give the Guam business community a fair chance, and I thank the Financial Services Committee for their work on this legislation.