LTE: McCaskill, Blunt Break From Partisan Pack For Missourians’ Benefit

Amid all the political noise coming out of Washington, something quite unusual happened in the Senate last year that Missourians need to know.

A bipartisan group of 24 senators sponsored legislation that would make the first substantial reforms to the nation’s financial system since 2010. The Economic Growth, Regulatory Relief and Consumer Protection Act promises to spur economic growth and job creation in Missouri and U.S.

Missourians should commend this bill and the people who made it happen, including Senators Claire McCaskill and Roy Blunt. Together with their colleagues, they have shown what can be accomplished when lawmakers of different parties, in good faith, work together to solve real problems.

Consensus-minded senators forged a deal with commonsense, targeted changes that will allow banks to better serve their customers and communities without compromising safety and soundness. This bipartisan bill will give more credit-worthy borrowers in Missouri the chance to get the mortgages they need to buy homes. It will allow more deserving small business owners to get the loans they need to expand and hire more workers. Community bankers will be able to spend more time serving their customers’ needs instead of racking up hours each day to comply with federal regulations intended for much more complex institutions.

Why did Senators McCaskill and Blunt support these important changes? They listened to bankers across the Show-Me State and took time to understand the challenges banks face in serving their communities because of excessive and ill-tailored regulations.

Unfortunately, some in Congress are making false claims about this bill, arguing that it “rolls back” regulations. It does nothing of the sort. It makes sensible changes that represent seven years of lessons about what’s working — and what’s not — in financial regulation. Top financial regulators also have called for changes and voiced support for the proposal.

The good news is so many Democrats and Republicans support this bill that it stands an excellent chance of passing the Senate. It’s already cleared the Banking Committee on a strong, bipartisan vote, which bodes well for success in the full Senate. If that happens, it will need to be reconciled with similar proposals in the House, but the prospects for this legislation eventually becoming law are good.

Missourians should support this bill and applaud Senators McCaskill and Blunt for breaking from the partisan pack to get something done. This spirit of bipartisanship shows there’s no reason that Congress can’t tackle other tough issues in the same way.

William M. Dana, Jr.
President and CEO
Central Bank of
Kansas City

Comments are closed.

  • LTE: Elections have consequences

    January 2nd, 2019
    by

    Missouri’s 100th General Assembly will convene Jan. 9, 2019 at 12:00 p.m. Members will be sworn in and special guests […]


    LTE: Every Problem Is An Opportunity In Disguise

    December 19th, 2018
    by

    “Every problem is an opportunity in disguise.” When I was growing up, my father had this John Adams quote prominently […]


    LTE: Who would you rather help?

    November 14th, 2018
    by

    Recently, a Northeast family with a young child and an infant on the way was hit with a series of […]


    LTE: Farm Bill would impact SNAP benefits

    November 14th, 2018
    by

    Every five years, our federal legislators take on the task of renewing the Farm Bill, a hundreds-of-billions-of-dollars piece of law […]


    Reflecting on my time at the Northeast News

    October 10th, 2018
    by

    Paul Thompson Northeast News A decade covering news in Kansas City will leave a wealth of memories. Many of you […]


  • LTE: Reader enjoys Northeast News content

    October 10th, 2018
    by

    Born and raised in Northeast, I love and support the Northeast News. This weeks September 19th edition highlighted Mr. Publisher […]


    LTE: Cartoon brushes aside important issues

    September 19th, 2018
    by

    I was dismayed by the “Retorts Illustrated” cartoon by Bryan Stalder in the 9/12 edition of Northeast News. Mr. Stalder […]


    LTE: Where’s the compassion?

    August 29th, 2018
    by

    Even tho I often disagree with ole Bunny, I totally agree with her on her recent opinion, “City Services Get […]


    LTE: Opinions Based on Facts Are Far More Useful

    August 29th, 2018
    by

    In a community that so often operates on rumors, I think it is useful to have opinions based on fact. […]


    LTE: Cartoon was in poor taste

    August 15th, 2018
    by

    I can understand the quality of cartoons in a free neighborhood newspaper can clear a fairly low bar. Predictably, Mr. […]


  • Local Weather

  • What’s Happening

    Victim identified in Northeast Kansas City shooting

    The victim in the January 11th shooting on Hardesty Avenue has been identified as Joseph Mason of Kansas City.

    The City will be removing downed branches after recent storm

    The City of Kansas City is hauling off downed tree branches after the recent storm!

    Northeast News Local Service Index

    COMING SOON! CALL 816.241.0765 TO BE A PART OF THE LOCAL SERVICE INDEX!