Barney Frank: “The gentleman is right, we are trying in everything we have done, and I think we have accomplished that in our committee…”

“The gentleman is right, we are trying in everything we have done, and I think we have accomplished that in our committee so far. The chairman has been very cooperative in promoting efficiency while protecting consumers. This bill, as I said, does do that with regard to your ability to get the check if you actually need it. The gentleman raises a point that had not previously occurred to me that I think is a good one. I think it ought to be addressed. I would be obviously, as I have told him, very reluctant to do it now without a chance to examine it and have some hearings. We do have pending in the process a more comprehensive bill called the Regulatory Relief Bill into which I believe this would fit. The bill passed our committee. It is being sequentially referred to the Committee on the Judiciary. There are some important issues there, particularly including the industrial loan corporations, where we have given assurances that we are going to try and work some compromises out. So I can guarantee to the gentleman from New York (Mr. Weiner), who has raised this very important issue, that further work remains to be done on regulatory relief.”