CEDAR FALLS, Iowa (AP) – Hillary Rodham Clinton says Republican-backed legislation revamping a financial regulation law is a “cynical attempt to game the system for those at the top.”
The Democratic presidential contender is speaking to small business owners in Iowa. She says she would seek ways to help small businesses increase access to loans so they can hire and expand.
Clinton says that would require easing regulatory restrictions on community banks. But she says that should not involve lifting regulations on larger banks that contributed to the economic crisis.
The Senate’s banking committee chairman, Republican Richard Shelby of Alabama, has introduced legislation to give banks with assets of more than $50 billion a chance to avoid tighter supervision. Some Democrats say regulatory relief should be limited to credit unions and smaller community banks.