Omaha Public Radio News
Wed May 5, 2010
Nelson supporting two amendments to financial reform bill
By Katie Knapp Schubert
Omaha, NE – Senator Ben Nelson is backing two amendments to financial reform legislation making its way through the U.S. Senate.
Nelson says the financial reform legislation is complex, and he hopes a bipartisan solution is reached soon. One of the two amendments would change how the FDIC assesses banks, resulting in larger, high-risk banks paying more in insurance premiums.
"That would then reduce the assessment on the banks with less than ten billion dollars in assets, keeping about four-point-five billion in community banks," Nelson says. "In Nebraska, it would save community banks millions of dollars they could then lend to local businesses and individuals to keep our communities growing and healthy."
Another amendment would continue the Federal Reserve's regulation of community banks, not just large Wall Street firms.
Nelson's comments came Wednesday during his weekly conference call with reporters.