- Northwoods Republican Congressman Sean Duffy thinks his rural background is perfect for his latest role in Congress.Duffy will be the new Vice-Chairman of a subcommittee on Financial Institutions and Consumer Credit.That's contained under the House Financial Services Committee."Being born and raised in rural America, I understand how important our small community credit unions are. They're the lifeblood of economic growth within our community," Duffy says.
Duffy's subcommittee will take a more relevant role after the 2008 financial collapse and the Dodd-Frank legislation that followed it."Our small community banks were not the cause of the financial crisis. But often times, they bear the brunt of the new rules and regulations that have come out. The cost of compliance, the cost of these regulations are far higher for them. So that's a focus for me," he says.Within the Financial Services Committee, Duffy also serves on the Subcommittee on Insurance, Housing, and Community Opportunity.Milwaukee Democrat Gwen Moore is the only other Wisconsinite on Financial Services.
Story By: Ben Meyer