Barney Frank: “The bill itself is, as he described it, a good idea. We originally passed it with an amendment from the Judiciary…”

“The bill itself is, as he described it, a good idea. We originally passed it with an amendment from the Judiciary Committee. Frankly, I was not in favor of that amendment. I think what the Senate has done has improved the bill; and that is not a sentence I always get to say, but I do want to say in this case. I think it is now a good bill and more consumer friendly. The gentlewoman from Florida was very much interested in this, and quite right to push for it. Our colleague from North Carolina (Mr. Watt) had some concerns about some potential negative effects on consumers. It has all been worked out, so it is now a bill that improves the administration of the system, and I generally support it.”