Spencer Bachus: “I doubt that one rule--it may bring down all of the community banks, it may bring down all of the insurance companies.”

However, my continued concern is that the program threatens to dry up legitimate sources of credit and financing.

I think maybe listening to everyone on the panel, I think, and most of the Members on the dais, we all agree that our country, its citizens, and even our immigrants need comprehensive immigration reform.

In a perfect world, there will be no payday lenders.

My Democratic colleagues have said they want to wrap this up. So let me just simply say to you that this is having the effect of shutting down these companies, whether that was intended or not.