“I have legislation, the Chinese Military and Surveillance Company Sanctions Act, that uses the OFAC SDN list to target the financing of military and surveillance companies that act counter to the national security of the United States.”
Barr discusses his legislation aimed at sanctioning companies threatening U.S. security.
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Community banks are exempt from this proposal. It only covers the top 37 banks in the country.
We definitely want innovation in our banking system. Innovation has been critical to having a thriving financial sector and a thriving economy.
I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.