Political Quotes

“Mr. Speaker, I rise in strong support of H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act. Not only is this bill important to restoring sound financial practices within the financial services sector, it includes two provisions that originated from legislation I introduced in this Congress. The most significant is my bill, H.R. 4823, the American Financial Institution Regulatory Sovereignty and Transparency Act of 2023, better known as the American FIRST Act. The short title is an apt description of the bill's aim: to put American interests first in bank supervision and remove misguided political influence from our banking system. The American FIRST Act has three important key elements: First, it removes undue political influence from banking regulations. In recent years, Mr. Speaker, we have seen bank policy used by regulators to further their political interests, not for what is best for banks or their customers. Bank regulators have proposed sweeping supervisory changes without critically evaluating the models they use to forecast climate-related financial risk. When nonbinding FSOC proposals are written into binding regulation, they deserve a high degree of scrutiny from lawmakers. The truth is that the banking system shouldn't be a race to fill supervisory roles with partisan loyalists. It should be about safeguarding the financial system with a sober eye for objectivity.…”