KBZK: Tester named chairman of banking subcommittee

U.S. Senator Jon Tester has been named chairman of the Senate Banking Subcommittee on Economic Policy.

The subcommittee is responsible for overseeing Congress’ role in monetary policy, economic growth, small business lending and flood insurance as well as oversight responsibility for the recently created Financial Stability Oversight Council charged with addressing systemic risk to the financial system, according to a news release from Tester’s office.

“Montana’s community banks are the driving force behind strong small businesses and a job-friendly economy,” Tester said. “This leadership role guarantees Montana and rural America have a voice at the table as we work together to rebuild our economy by creating jobs, cutting spending and cutting our debt.”

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