Political Quotes

John Sarbanes: “Very briefly, if we were seeking to leave the consumer or the user of the credit union exactly in the posture in which…”

On the recordJuly 27, 1998
Very briefly, if we were seeking to leave the consumer or the user of the credit union exactly in the posture in which they now find themselves prior to the Supreme Court decision, we would have no limitation on credit union business lending, because that was the existing state of affairs. So in that sense, the problem of an issue was raised. There was an effort to respond to that problem. But if one is to use the argument that all we should do in this legislation is to return to the status quo--that that is the whole purpose of the legislation--then we have no limitation, because the status quo was without limitation.
Said by
John Sarbanes
Democratic · Maryland
Source
govinfo.gov

Editor's note · Context

Discussing the implications of a Supreme Court decision on credit union business lending.

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