DPC Testifies against DIDMCA Opt-Out in Oregon

On January 28, Domestic Policy Caucus Secretary/Treasurer Kent Kaiser, Ph.D., testified virtually against House Bill 2561 before the Oregon State House Committee On Commerce and Consumer Protection.

HB 2561 is a bill that would opt Oregon out of the federal Depository Institutions Deregulation and Monetary Control Act (DIDMCA), which allows state-chartered banks to compete across state lines. An opt-out would limit credit options for Oregonians and thus hinder the freedom to borrow money.

In part, Kaiser testified, "You wouldn’t send someone to the Alvord Desert without a water bottle. You shouldn’t banish poor Oregonians to a veritable credit desert with no way to survive, either."

Read the full testimony here.