FOR IMMEDIATE RELEASE

CONTACT:
Kenneth Ryan James, (501) 766-2079
press@timgriffinforcongress.com

Law claims to target Wall Street excesses,
but hits Main Street’s community banks hard

LITTLE ROCK – Second District Congressional candidate, U.S. Army Reservist and former U.S. Attorney Tim Griffin today issued the following statement in response to the President signing into law the Dodd-Frank financial regulatory reform bill:

“We can all agree that we need to address the excesses on Wall Street, but this bill misses the mark. The Dodd-Frank financial reform law does little to stop future Wall Street meltdowns and creates many more obstacles to job creation. While Speaker Pelosi and President Obama say the law targets Wall Street, its unintended consequence will be the strangling of community banks on Main Streets throughout Arkansas.

“This law makes it harder for Arkansans and small businesses to obtain credit and invest in new jobs, and the cost of financial services will increase for Arkansas consumers and employers. It is a no-win for our community banks – a vital part of the Arkansas economy and critical to job creation.

“A majority of Arkansas’s House delegation—Democrats and Republican alike—opposed Dodd-Frank. The Second District needs someone who will fight for common sense ideas, not be a reliable yes vote for Speaker Pelosi and President Obama. As your next congressman, I will be a voice for Arkansas consumers and community banks, while addressing the root causes of the financial meltdown—including the failures at Fannie Mae and Freddie Mac—which Dodd-Frank ignores.” 

About Tim Griffin

Tim Griffin is the principal in the Griffin Law Firm, PLLC and in Griffin Public Affairs, LLC, both based in Little Rock.  He is a graduate of Hendrix College in Conway and Tulane Law School in New Orleans and attended graduate school at Oxford University.  He has served in the U.S. Army Reserve for 14 years, was deployed to Iraq and holds the rank of Major.  He also served as U.S. Attorney for the Eastern District of Arkansas and Special Assistant to President George W. Bush in the White House.  He is a 5th generation Arkansan and lives in Little Rock with his wife Elizabeth and their two children.

For more information, visit www.TimGriffinforCongress.com, stop by our Little Rock campaign headquarters at 300 River Market Avenue, Suite 5, or call (501) 353-0899. Griffin supporters can also follow the campaign on Twitter at www.Twitter.com/GriffinCongress and on Facebook at www.Facebook.com/TimGriffinforCongress.

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