I don't understand how allowing small banks to be more permissive lenders will help grow the economy, but maybe that's true. Still, you said that 3% GDP growth is achievable "if congress acts." Good luck.
The simple answer is easing restrictive regulations will stimulate economic growth by increasing credit access for small businesses, consumers, and local communities. More direct regulations like Basel III increase compliance cost and force small banks to hold more capital, reducing funds available for loans. These small banks are the ones I got loans from when I was just starting out. They allowed me to build 20+ SportClips and dozens of Subway franchises. I created over 400 jobs. I will assume you know what this means when it comes to helping the local economy and the federal government.
New information with an optimistic future. Thanks for the update!
I don't understand how allowing small banks to be more permissive lenders will help grow the economy, but maybe that's true. Still, you said that 3% GDP growth is achievable "if congress acts." Good luck.
The simple answer is easing restrictive regulations will stimulate economic growth by increasing credit access for small businesses, consumers, and local communities. More direct regulations like Basel III increase compliance cost and force small banks to hold more capital, reducing funds available for loans. These small banks are the ones I got loans from when I was just starting out. They allowed me to build 20+ SportClips and dozens of Subway franchises. I created over 400 jobs. I will assume you know what this means when it comes to helping the local economy and the federal government.