Political Quotes

“I reserve the right to close, and I reserve the balance of my time. Mr. McHENRY. Madam Speaker, I yield myself such time as I may consume to close. Madam Speaker, as I said in my opening, this is yet another attempt by House Democrats to socialize the credit reporting and scoring industry. We had an opportunity for a bipartisan bill, and this is not the work of that product. This bill will decrease competition in the industry, increase fraud risk related to consumers' personal data, prop up the trial bar, and expand the authority of the Consumer Financial Protection Bureau. If Congress really wants to protect consumers, we should be working together promote more competition in the credit reporting and scoring industry. We should be promoting new ways to eliminate the barriers to entry, not promoting what really comes down to less consumer choice. We marked up this bill in the Financial Services Committee back in December. The committee Democrats noted in their report on the bill: ``It has been more than 15 years since Congress enacted comprehensive reform of the consumer credit reporting system, and there have been numerous shortcomings with the current system identified during that time that need to be addressed.'' Yet, since the Democrats took over in 2019, the House Financial Services Committee has held one hearing on credit reporting. We had a bipartisan consensus on the things that needed to be done and the challenges therein.…”