Hoeven Statement on President Signing into Law Consumer Protection, Regulatory Relief Legislation

Senator Invited to White House Signing Ceremony, but Unable to Attend due to Agriculture Appropriations Markup

WASHINGTON – Senator John Hoeven today released the following statement after the President signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, bipartisan legislation that enhances consumer protections, while also providing regulatory relief for small community banks and credit unions. Hoeven was invited to the signing ceremony at the White House today, but as Chairman of the Agriculture Appropriations Committee, was unable to attend as the committee was marking up and passing the FY19 Agriculture Appropriations bill. 

“We appreciate the President signing into law this important legislation that provides regulatory relief for small financial institutions, which faced a disproportionate burden under the Dodd-Frank regulations. Rolling back unnecessary regulations will help provide consumers with more choice when it comes to financial services and at the same time, this bill includes our provisions to help address consumer protection concerns, including identity theft and fraud.”

Hoeven cosponsored and worked to ensure the inclusion of provisions in the legislation to help prevent fraud and identify theft as well as provide flexibility for home appraisals in rural areas. Click here for more information on the bill.