Before serving in Congress, I spent more than 30 years in the financial services industry. I have seen firsthand the important role that local financial institutions play in helping families realize the American dream. We live in a world where banking is becoming more concentrated and lending is constrained.
That is why it is important to provide some regulatory relief to the small, hometown institutions that have served our local communities well and did not contribute to the financial crisis of 2008. In the 112th Congress, I introduced the Communities First Act, legislation that would help community banks and credit unions foster economic growth and continue to serve the clients they personally know so well. The Communities First Act seeks to give targeted, regulatory relief to community institutions and their customers, tax relief for small banks and holding companies and modifications for small Subchapter S corporations. I will continue to be an advocate for main street Missouri and work to ensure that taxpayers are not left on the hook for any failings of our financial system.
Touching on my wide-ranging experience as a bank examiner, small businessman, and community banker, I serve on the House Financial Services Committee and sit on two key subcommittees: Financial Institutions & Consumer Credit and I am the Vice Chairman of the Housing and Insurance.
The House Financial Services Committee has jurisdiction over the nation’s financial services and housing sectors, including banking, insurance, real estate, public and assisted housing, securities, and domestic and international monetary policy. The committee is responsible for reviewing the laws and programs of the Federal Reserve Bank, the Federal Deposit Insurance Corporation, Fannie Mae and Freddie Mac, the Department of Housing and Urban Development, the World Bank and the International Monetary Fund, National Flood Insurance Program, among other federal government agencies.
One of my goals in Congress has been to provide an environment where American families can succeed through a combination of hard-work and economic freedom.