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Credit Crunch Hearing in Chicago

Statement

By:
Date:
Location: Unknown

On Monday, I and my colleagues on the Financial Services Committee will hold a field hearing in Chicago to examine how new financial regulations are impacting the local economy. Specifically, we'll explore whether new rules created by the Dodd-Frank Act have negatively impacted the ability of local lenders to extend credit to small businesses. I often hear from small business owners in our area that one of the biggest obstacles to growth is difficulty accessing loans. Monday's hearing will give all of Congress an opportunity to hear from witnesseslike Naperville Chamber of Commerce CEO John Schmitt and James Renn, the CEO of Lisle Savings Bank, about how federal rules are impacting our area.


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