FOR IMMEDIATE RELEASE:                    CONTACT: 

April 5, 2012                                             Jen Scungio, 202-457-8759

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FORUM COMMENDS FINAL PASSAGE OF ‘JOBS ACT’

WASHINGTON, D.C. — Financial Services Forum President and CEO Rob Nichols issued the following statement upon the signing of H.R. 3606: “The Jumpstart Our Business Startups (JOBS) Act” by President Obama today:

“The Forum applauds the signing of the JOBS Act by President Obama this afternoon.   The JOBS Act is a positive step toward ensuring greater access to capital for small businesses and entrepreneurs, spurring growth, and creating jobs for America.

“Research by the Ewing Marion Kauffman Foundation has demonstrated that virtually all net new job creation in the United States over the past 30 years has come from businesses less than a year old – true “start-ups.”  And polling released by the Financial Services Forum and the Small Business and Entrepreneur Council last Fall found that access to capital continues to be a major challenge for new businesses.

“The JOBS Act addresses the concerns of new businesses by promoting innovation and enhancing the conditions for our job creators and job seekers.  We look forward to observing the impact the legislation will have on small businesses and entrepreneurs in our recovering economy.

“We additionally commend the work of Senators Pat Toomey (R-PA), Jon Tester (D-MT), Jerry Moran (R-KS), Mark Warner (D-VA), John Thune (R-SD), Charles Schumer (D-NY), Scott Brown (R-MA), and Tom Carper (D-DE), who have all focused on the importance of small businesses and startups, and have authored bills that are included in the overall JOBS Act package.  We also thank Congressman Stephen Fincher (R-TN) for his leadership in the House on these important issues.” 

The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 20 of the largest and most diversified financial services institutions doing business in the United States. The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.

Follow the Forum on Twitter: http://twitter.com/fsforum

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