Michael S. Barr: “I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities…”

Community banks are exempt from this proposal. It only covers the top 37 banks in the country.

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.

Overall, our banking system is sound and resilient.

I can say the banking system is sound and resilient. I think that was really the right thing to do.