Barney Frank: “I think even with these agreements the bill is, with regard to some existing law in California and elsewhere, more…”

“I think even with these agreements the bill is, with regard to some existing law in California and elsewhere, more preemptive than it needs to be. I recognize the value of this colloquy in making clear what those limits are. The gentlewoman from California (Ms. Waters) who has been very concerned about this... she is concerned and I share her concerns... my own personal view... is that even with these understandings, there is more preemptive language here than need be. I intend to work with the gentleman from California and other Californians in various ways to try and further reduce that preemption.”