James A. Leach

First let me just stress section 191 of this bill repeals the Know Your Customer regulation. Secondly, the committee would be happy to deal with further modifications in this area. But thirdly, it has to be understood by everybody here…

We have carefully reviewed this amendment with the Federal Reserve Board of the United States. It is my understanding that they have no objection to the amendment, that it is a very thoughtful and reasonable approach to dealing with a…

I would like to echo the gentleman from New York's comments about the gentlewoman. She has brought a great contribution to the Committee on Banking and Financial Services. We are all very appreciative. This particular amendment is common…

I would just like to stress there is no intent in this bill to jeopardize any confidences associated with doctor-patient relationships nor the privacy protections currently afforded any medical records. Indeed, the intent is to strengthen…

The only basis for canceling the card is if the card would not be in use for better than a 3-month period. That is a fairly common sense circumstance. So a financial institution does not have to carry the cost of dealing with people who do…

I support this change in law. It is individually counterintuitive and socially counterproductive that lenders establish incentives to pull credit from individuals who pay their debt on time. This price fixing provision would have…

I would like to underscore, as the gentleman from Massachusetts (Mr. Kennedy), the gentleman from New York (Mr. LaFalce), and most of all, the gentleman from New York (Mr. Lazio) have, that included in this appropriations bill is the…

The definition of a single common bond credit union does not preclude subgroups, but all such subgroups must have the same common bond of occupation or association.

It is odd to be in an argument about an issue which we both support. But I would simply say it took a burden off the American people and that was a very appropriate thing to do.

I would be delighted to respond to the gentleman. As the gentleman knows, there is a lot of controversy within the country and some differences of judgment within the party on the flat tax, but it is my belief that the majority of…

I also believe that what the gentleman is doing makes sense. I would only also stress what an enormous contribution he has made to the committee this year. I think this is a worthy amendment.

The gentleman has raised probably the most controversial section of the bill in terms of subtleties of language. I share some of his concerns, and I will assure the gentleman, as we move forward there, this language will be carefully…

The gentlewoman has precisely and correctly laid out the circumstances of the bill. This bill is designed to enhance functional regulation as she has described.

The IMF, historically, was established in theory before the end of World War II and, in fact, right after the war to deal with the causes of war, the causes of depression. The rationale for the creation of the IMF is very much alive today…

I personally think it is a common sense, thoughtful, constructive way to proceed with homeless housing. It represents a commitment of Congress to this arena of public concern, which is one of the most extraordinary in this country at this…

This bill was written exclusively by the chairman of the House Committee on Banking and Financial Services. No outside group presented this bill or suggested the bill prior to its introduction.

I think all of us in this body have to understand that the intricacies of single-issue group politics is bedeviling our foreign policy at this time and jeopardizing the national interests of the United States. If this Congress adjourns…

I would only respond briefly. I think perspective has to be applied. The gentleman is correct that a year ago the budget came in less than the prior year. But this budget is precisely the same as the prior year, precisely the same as the…

First I want to be very precise on several points. The gentleman has referred to a reduction in spending for several programs as part of a 95 supplemental which was not passed out of our committee. This was not a committee that passed that…

There are two statistics that I think one has to be very careful of. The gentleman has used 25 percent and with the time frame, but it must be placed in the Record that this bill that we have before us is 100 percent of the…

I would also say that in addition to the 16 States, where two-thirds of the districts would be excluded, even in Massachusetts, which is not as affected as some other States, 44 percent of HUD districts would be excluded, of families of…

I would just stress that this program as currently drafted in the statute applies to the poorest of the poor, and it also applies to the working poor. The amendment of the gentleman from Massachusetts will exclude in many instances the…

In Brownsville, TX, a family making $15,750 will be excluded from this program. However, the fair market rent there is about $510, which is 39 percent of income. After paying for the year's rent, that family will have only $9,631 to pay…

What the amendment of the gentleman from Massachusetts does and one of the reasons I think this is such a close call is suggest that only the poorest of the poor would be targeted.

All I am saying is the gentleman has a philosophical point that is deeply worthy of respect, and all I am trying to say is unfortunately when we work it through, there are counterproductive ramifications, and I tried to lay out precisely…