Political Quotes

“I rise to share some of my concerns regarding H.R. 1151, the Credit Union Membership Access Act. First, let me state that I support the concept of H.R. 1151; that is, to prevent a current credit union member from being forced to disaffiliate, and also to allow a credit union an opportunity to reasonably expand its membership to help ensure the safety and soundness of the institution. I will support passage of H.R. 1151. However, in light of the realization of the tax-exempt status that Congress affords credit unions, I think it would be irresponsible for this body to not fully debate a serious problem that exists with this legislation; and it is the Community Reinvestment Act requirements. Madam President, we can talk about interpretation. We can talk about administering the act. But the realization is that the act calls for specific action by community banks. And the consequences of that are not only costly, but in some instances rather--well, they are rather amusing.”