CEDAR FALLS, Iowa—Hillary Rodham Clinton was critical of Republican efforts to overhaul Dodd-Frank Act during an event here.
Clinton, considered the leading candidate for the Democratic Party’s 2016 presidential nomination, said efforts to alter Dodd-Frank are a "cynical attempt to game the system for those at the top." Sen. Richard Shelby (R-AL) will hold a hearing Thursday on peeling back portions of Dodd-Frank, especially for smaller, community financial institutions.
Clinton, who was part of a meeting of small business owners at a bicycle shop here, said she has called for easing regulations for small community FIs, but opposes any lifting of rules for larger financial institutions, especially those that contributed to the 2008 economic meltdown.
She said that as president she would push for cutting any rules or red tape that might discourage community FIs from making loans to smaller businesses.
"You shouldn't have to be a Fortune 500 company to get a loan," she said at the Iowa event.