Political Quotes

“Mr. Speaker, I thank the gentlewoman for yielding. Let us be honest. There are no legitimate consumer groups who support repealing this rule. The consumer groups are actually with the consumers, and they want this rule. So let us be clear. This rule is being repealed for the biggest financial institutions in the country. Let us be clear. I do not oppose arbitration as an option. I do oppose it as the only alternative allowed. Very simply, you go to a bank, they open up a bank account in your name, they steal your money, they move it over. If you catch them, you go to the bank, you file arbitration, they give you your $100 back and maybe a dollar's worth of interest, and it is over. They don't tell you there is 2 million, 3 million, 5 million other people with the same situation who don't know about it. Because it is arbitration, no one talks about it. It is done in private. I am not opposed to arbitration as a way to avoid court when possible. I am vehemently opposed to taking options away from consumers that say you cannot individually stand for your rights. That is what this bill does. That is all it does. If you care about consumers, you would work with us to try to find a simpler way. You don't want to do it. You want to help the big boys. Good luck.”