Statement of Administration Policy: S. 2231 - Agricultural and Energy Bank Incentive Act

(Senate)
(Gam (R) Utah)

The Administration opposes S. 2231, because:

• A moratorium on non-bank banks is unnecessary, would threaten the legal status of some existing banks, would undermine the well-established structure of unitary thrift holding companies, and would discourage those who wish to provide new services to consumers; and
• Statutory assistance to agricultural and energy banks is unnecessary in light of administrative actions already undertaken by the regulatory agencies.