Mr. Chairman, I ask for a recorded vote. The Acting CHAIR. Pursuant to clause 6 of rule XVIII, further proceedings on the amendment offered by the gentleman from Virginia will be postponed. The Chair understands that amendment No. 2 will not be offered. Amendment No. 3 Offered by Mr. DeSantis The Acting CHAIR. It is now in order to consider amendment No. 3 printed in part B of House Report 113-350. Mr. DeSANTIS. Mr. Chair, I offer my amendment. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Add at the end the following: SEC. 6. REPEAL OF EXCLUSIVE RULEMAKING AUTHORITY. Section 1022(b) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5512(b)) is amended by striking paragraph (4). The Acting CHAIR. Pursuant to House Resolution 475, the gentleman from Florida (Mr. DeSantis) and a Member opposed each will control 5 minutes. The Chair recognizes the gentleman from Florida. Mr. DeSANTIS. Mr. Speaker, James Madison told us in the Federalist Papers: If men were angels, no government would be necessary. And if angels were to govern men, neither external nor internal controls on government would be necessary. And so as I look at this agency which lacks all the traditional measures for constitutional accountability, I am reminded by that insight. The Founding Fathers understood human nature, and they understood that people in positions of power will eventually, at some point, abuse that power.…
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Mr. Speaker, I yield 3 minutes to the gentleman from California (Mr. Sherman), who is also the ranking member of the Subcommittee on Capital Markets.
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