Political Quotes

“I, once again, thank Chairman Garrett, chairman of the Subcommittee on Capital Markets, for his support and leadership on this bill. I particularly thank my cosponsors on this bill: Mr. Womack, with whom I have worked before; Mrs. Wagner; and Mr. Delaney. Additional cosponsors of the bill are Mr. Polis, Mr. Quigley, and Mr. Renacci. I thank them for their hard work. This is a rare example of a wise bipartisan bill that will achieve something important, which is to basically undertake a technical fix to the JOBS Act, passed into law in April of 2012, which allowed banks to put off becoming public until they reached a threshold of 2,000 shareholders. That sounds like a small and technical point, but it put a tremendous burden on banks that perhaps were not ready to go public with more than 500 shareholders at the time. The legislation did not directly specify that savings and loans would also receive the same treatment. It was, I believe, the intent of Congress that that be the case. So H.R. 801 goes back to seek to remedy this issue. The Holding Company Registration Threshold Equalization Act, a rather awkward name for H.R. 801, extends the shareholder registration thresholds to savings and loan holding companies. This bill will ensure that savings and loan institutions operate under the same rules as banks, trying to create a more uniform and simple regulatory apparatus.…”