Congressman Andy Barr says his “Help Rural Communities Act” will assist businesses in such places to obtain access to affordable credit and ease regulations on small, local banks. The Fayette County Republican’s bill passed Tuesday in the House of Representatives.
Barr says he began work on the measure after learning that a federal agency had classified Bath County as “non-rural”. He says the designation resulted in an avalanche of new paperwork for a community bank in the Owingsville area and limited its ability to lend money. Barr says the “non-rural” classification never made much sense, anyway…
Barr says his bill permits areas not satisfied with their federal classification to petition to have it changed. He claims it offers pragmatic, commonsense solutions to bureaucratic problems.
