Financial Services are critical to the vitality of our economy. Our businesses and entrepreneurs require access to capital, stable financial markets, and regulatory clarity in order to grow and create jobs.
Unfortunately, federal bailouts and burdensome regulations have created a climate of uncertainty, and the volatility is a direct consequence of these misguided policies. The Dodd-Frank Act created massive new government bureaucracies that give too much authority to federal regulators. Dodd-Frank should be repealed so we can rein in federal bureaucrats and regulations that pose a threat to our economic recovery. That is why I have supported legislation to repeal the “too big to fail” designation, which has all too often left many small and medium-sized community banking institutions “too small to succeed.”
By maintaining stable financial markets that allow startup companies, students, individuals, and small business to get loans, we will lay the groundwork for future economic success. The first step is to get the federal government out of the way. In Congress, I will always work to ensure the federal government does not interfere in areas it doesn’t need to.
For more information concerning my work and views related to Financial Services, please contact me.
More on Financial Services
(Washington, DC) – Congressman Doug LaMalfa (R-Richvale) released the following statement after the House of Representatives passed H.R. 1187, the ESG Disclosure Simplification Act. This bill would impose burdensome, complicated, and useless private sector mandates on public companies to report unnecessary information to investors about environmental, social, and governance (ESG) impacts. Subjects found in these reports include: carbon emissions, biodiversity, inclusivity, and the racial, ethnic, and gender composition of company board seats.
(Washington, DC) – Congressman Doug LaMalfa (R-Richvale) issued the following statement after the House of Representatives passed the Preventing Disaster Revictimization Act. This bipartisan bill will prevent the U.S. Federal Emergency Management Agency (FEMA) from seeking reimbursement from Pacific Gas and Electric’s (PG&E) $13.5 billion settlement fund that was set aside for wildfire victims.
(Washington, DC) – Congressman Doug LaMalfa (R-Richvale) today praised the completion of bipartisan negotiations on the United States-Mexico-Canada Agreement. This agreement, which will replace NAFTA, had been delayed for a year over Democrat political concerns and labor union opposition.
Washington, DC – Rep. LaMalfa today supported a measure that extends a wide array of tax credits for American families, students, farms and employers, creating more certainty and decreasing costs for taxpayers. The bill ends a cycle of last minute, retroactive extensions that have inhibited investment and prevented economic growth. Passed on a 318-109 vote, the proposal will now be considered by the Senate.
Washington, DC – Rep. Doug LaMalfa (R-CA) today voted against a borrowing package that increases the national debt without addressing the federal government’s unsustainable borrowing, which amounts to about 40% of each dollar spent. The measure, H.R. 2775, was passed on a 285-144 vote and will now be sent to the President. Rather than set a hard borrowing limit, the bill would pay all debts incurred prior to February 8, 2014, effectively giving the Obama administration free reign to borrow without restraint over the next several months.