Michael S. Barr

It is shocking to me how the Majority's witnesses have identified that the solution to the problem of unbanked people in America is to destroy banks.

This is like asking the arsonists to put out the fire. It really is. It is absolutely crazy.

Using the power of the government to crowd out the public sector, to politicize banking, will make it harder--harder--not easier, for Americans to access financial services.

If we really care about helping the unbanked, it would be to provide them with greater diversity in the financial services ecosystem, and that would be to encourage new bank formation.

The Paycheck Protection Program is an illustrative case study in the comparative efficiency and effectiveness of the private sector versus the government.

Our role is to ensure that the financial system is resilient to risks. Those logically could include climate risks, and so we need to analyze how that could happen. But it is not our job to use the financial system as a tool of broader…

we teach about systemic & structural racism because in order to form a more perfect union, one has to acknowledge its flaws & work every day to correct them.

I think that is huge. I think that is absolutely immensely beneficial to low- and moderate-income communities.

Your agencies issued that guidance that clarifies the legality of industrial hemp and states that banks are no longer required to file suspicious activity reports.

I authored an amendment on this issue that was included in the Safe Banking Act, which the House passed in September.

At no point in time will we tolerate or accept any type of bias when these decisions are made.

I applaud you for that, and I don't want you to be bullied by politicians to relinquish our treasured free speech under the First Amendment.