John Sarbanes: “First of all, I commend the able Senator from Nevada for an extremely fine statement in support of this amendment which…”

“First of all, I commend the able Senator from Nevada for an extremely fine statement in support of this amendment which I very strongly back. The Senator made reference--I think it is an extremely important point--to the fact that the decisions with respect to complying with CRA are made by the regulators. As I understand it, community groups or anyone else can come in and make comments when some of these steps are to be taken for which an institution would have to meet CRA muster, and some of those comments, I assume, can be right on point, others may wander about. But whatever the case, it is not the people who comment who make the judgment; it is the regulators who make the judgment. So they can take it into account, give it some weight, give it no weight-- isn't that correct?”