Rep. Mia Love bill passes the House of Representatives
H.R. 3791 creates lending opportunities for middle class Americans
WASHINGTON D.C. – Congresswoman Mia Love fulfilled an important promise to her constituents, when the U.S. House of Representatives passed her bill by a margin of 247-171. It will expand opportunities for middle and low income Utahns to receive loans in order to pursue their version of the American dream.
Charles Knadler, President and CEO of Utah-based EnerBank reacted to the bill’s passage by saying: “This is a very important achievement for Utah and the 4th District.”
Mr. Knadler added: “As a longtime President and CEO of a bank that provides home improvement loans to Utahns, I’m impressed at Rep. Love’s ability to, in her first term, pass a bill of this substance and importance for our economy and our community.”
Rep. Mia Love said: “This is a very simple bill. It will help Utah communities get access to the credit they need, and give them a better chance at obtaining economic freedom.”
In plain terms, H.R. 3791 would strengthen small bank holding companies’ ability to continue lending in their communities, by making it easier for them to raise capital and issue debt.
On the floor of the House prior to the vote, Rep. Love said: “My bill is not about supporting banks. It’s about people. This bill is about giving people the credit they need to pursue their dreams…to get a car, a home, or start and grow their business.”
