This week in Washington, I continued my fight against efforts to create a new $400 million ureaucracy to impose new regulations on east Texas small businesses and community financial institutions.

Not only will this agency kill jobs, it will essentially tell each of us what credit cards, mortgages and auto and small business loans we can use.

At a time when over 3 million Americans have lost their jobs since President Obama took office, Congress should be providing tax and regulatory relief for small businesses, which create three out of every four jobs in our country.

I tried to exclude each and every one of our federally insured small community banks and credit unions from the reach of this draconian new agency, and while my amendment was defeated, I think it is important to fight for our communities' small businesses.

Small businesses are the job engine of our economy and community banks are eager to lend to them.