In case you missed it, Mario H. Lopez, President of the Hispanic Leadership Fund – a founding member of Americans for Free Markets (AFFM) – wrote an important op-ed in The Washington Times warning that restrictive banking regulations obstruct financial opportunities and upward mobility for everyday Americans. Lopez’s piece stressing the importance of free market policies in the financial services industry is particularly salient as the incoming Trump administration and new Congress formalize an economic policy agenda in 2025 and beyond.
In his op-ed, Lopez calls on lawmakers to reconsider regulations that restrict access to financial services that help countless individuals and communities achieve the American dream – including through small business financing and home ownership:
“Access to credit and home loans are two critical areas in the crosshairs. Unnecessarily restricting these two markets also restricts opportunity to empower low- and middle-income households…”
“…Nearly 40% of Hispanic small-business owners reported that obtaining financing continues to present a major challenge, compared with only 18% of their non-Hispanic White counterparts. Hispanic-owned businesses contribute over $800 billion to the economy each year, so the effects are felt beyond one demographic…”
“…Owning a home is another key measure of economic progress, a cornerstone of the American dream and a driver of generational wealth. Americans are uneasy about their prospects for homeownership.”
Lopez calls on lawmakers to stop enacting policies that create more barriers for families trying to access the financial tools necessary for growth and emphasizes the risk of banks being a target for politically-motivated policies:
“Putting the banking sector in the crosshairs is especially risky. Banks are not only the first institution consumers typically engage but also the primary one as their financial lives progress. That prevalence makes them targets for politicians who are eager to impose a political or cultural agenda…
“…increasing bureaucratic efficiency via regulatory burdens is far from a justifiable end, especially when the practical effects make it more difficult for our financial system to serve everyone, especially individuals and communities that face financial obstacles.”
Lopez concludes with a call to action for lawmakers to shift their focus to policies that expand – rather than limit – access to capital for all Americans seeking greater economic opportunity, particularly those in underserved communities:
“Hardworking Americans’ chances for upward mobility should not be collateral damage. Lawmakers who truly want to solve problems should focus their energy on policies that empower low- and middle-income households.”
To read the full op-ed in The Washington Times, click HERE.
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