Political Quotes

“Let me say that the gentlewoman makes a good point about financial management when it comes to late fees and accelerated interest rates on credit cards. That is why we are actually talking about overdraft protection today, because time and time again people take advantage of affordable, convenient, disclosed, not hidden overdraft protection so that their family can avoid a late fee on a credit card, which she just gave an excellent overview of her concerns about. If we want to do that, then give people the financial tools that they have in overdraft protection without micromanagement from the Federal Government. Don't take my word for it or anyone on this side of the aisle. The Federal Reserve Bank of New York found that artificial price caps, like the one being discussed, being proposed by the CFPB on overdraft protection programs, reduced the supply, leading to fewer bank accounts for low-income families, period, full stop. I hear all the concern. Mr. Speaker, I yield 1 minute to the gentleman from North Carolina (Mr. McDowell). We are glad to have his voice in this debate. Mr. McDOWELL. Mr. Speaker, I rise in support of this resolution to overturn a ludicrous rule which imposes government price controls on financial institutions across the country. The Biden administration's CFPB issued this rule right before they left town, and they sold it as a defense of consumers. Mr.…”