Political Quotes

“If Mr. McHenry has no more speakers, I am prepared to close. Mr. McHENRY. Madam Speaker, I yield myself such time as I may consume. So, in closing, the Community Reinvestment Act, we agree, is an important law that is intended to support underserved communities across America. Maintaining the status quo also ignores the innovation and the needs of our community. The innovations taking place to financial services and to banking over the last 25 years need to be addressed, but also the fact that we are not actually meeting the needs desperately needed in communities around our district, both the urban and rural. The new regulations will increase investment and capital in communities and provide more clarity and transparency to all parties involved in the process. That is why it is a good update. As we work to ensure a strong economic recovery for all Americans, it is critical we encourage financial institutions to continue to provide services for those most in need. The OCC's final rule will play an important role in this recovery effort by encouraging more capital, investment, and lending services in the communities hardest hid by COVID-19. That is good. The OCC took a very thoughtful approach, embracing input from other agencies and stakeholders over the course of several years. The final rule builds in nearly all of the constructive criticism the agency has received through the open comment process.…”