FOR IMMEDIATE RELEASE

July 12, 2010

*AUDIO OF CALL AVAILABLE HERE*

Rep. Jim Himes (D-CT) and the heads of the U.S. Women’s Chamber of Commerce and the South Carolina Small Business Chamber of Commerce urged the Senate to complete work on Wall Street reform that will benefit consumers and small businesses alike. While big bank front groups including the U.S. Chamber of Commerce are offering distortions about the effect on small businesses, Wall Street reform will provide these companies with a stable financial environment and predictable funding so they can thrive.

“Our economic well-being depends on the success of our small and medium-sized businesses, and they were especially hard hit by the financial crisis,” said Rep. Himes. “Wall Street Reform will go a long way toward improving the confidence of investors and consumers, which will, in turn, help our businesses thrive and help turn the economy around.”

“America’s small businesses will benefit by reforms bringing stability to our financial markets through decreasing risk and increasing transparency and accountability. This legislation will bring greater access, transparency and predictability to credit and capital markets – thereby allowing small businesses to plan with greater confidence and accuracy for their business growth needs,” said U.S. Women’s Chamber of Commerce CEO Margot Dorfman.

Read Dorfman’s full statement here.

“The U.S. Chamber of Commerce does not represent the interests of small businesses that have suffered because of the irresponsible actions of the nation’s biggest banks. The U.S. Chamber still wants Congress and the public to be afraid, claiming Wall Street reform will dry up loans to small business. But they’re wrong,” said Frank Knapp, President, of the South Carolina Small Business Chamber of Commerce. “Small business supports this legislation because it will restore balance between Wall Street and Main Street through fair and common sense policies and create a stable, transparent financial environment in which community banks and credit unions can once again feel secure in making loans.”

Read Knapp’s full statement here, and his blog post about this issue here.

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