TALLAHASSEE, Fla. (AP) — Democratic Senate candidate Patrick Murphy says Congress needs to address unintended consequences in banking regulations passed after the 2008 economic collapse that are now hurting small banks.
Murphy said Thursday that banking giants can handle the new regulations, but community banks are being hurt by the regulations enacted in 2010.
The congressman released an eight-page policy paper on economic issues. Many of the ideas are points he and other Democrats have already been making, like raising the minimum wage to $15 an hour and making sure women receive equal pay for equal work.
Murphy is also calling for an independent commission that would recommend getting rid of outdated and duplicative business regulations.
He is facing U.S. Rep. Alan Grayson in the Democratic primary to replace outgoing Republican Sen. Marco Rubio.
