Congressman Andy Barr was in Frankfort on Tuesday, touting his efforts in passing a bill that rolled back parts of the Dodd-Frank consumer protection act.
Dodd-Frank set up banking oversight in the wake of the 2008 financial disaster.
Barr is a Republican who represents Kentucky’s 6th Congressional district. He says the measure made it harder for people in rural areas to get access to credit.
“By reducing the number of community financial institutions, Dodd Frank regulations clogged the plumbing of our economy. Especially in rural and underserved communities,”
Signed by President Trump earlier this year, the rollback of Dodd Frank cuts several regulations on banks that have less than $10 billion, including a repeal of the “Volcker Rule,” which prohibited banks from making certain types of risky investments.
Barr is facing a hotly contested election this November against retired Marine fighter pilot Amy McGrath, a political newcomer who Democrats hope will be able to appeal to urban and rural voters in the district.
