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Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) released the following statement on House passage of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act:

“Following the financial crisis, government’s response was to regulate all banks – big and small – the same. That meant that local institutions, who have close relationships to their communities and customers, had to devote their time to complying with never ending regulations, rather than providing capital and support to their customers. As a result, many community banks and local financial institutions have closed. Passage of S. 2155 tailors regulatory standards so community banks can free up resources that support communities and small business. From tax reform to regulation reform, House passage of this bill is yet another major step for America’s comeback.”