Political Quotes

“Mr. Chairman, the gentleman from Georgia is much appreciated in the clarity of his analysis and his commitment for us to use, if we can, the right terminology when we are approaching these subjects, because this bill would prohibit the enforcement or negotiation of any settlement agreement requiring donations to remediate harms that are not directly and proximately caused by a party's unlawful conduct. My opposition to this measure, to begin with, is that the bill will prohibit the use of various types of settlement agreements that have been successfully used to remedy various harms caused by reckless corporate actors. For example, these settlement agreements have been utilized to facilitate an effective response to predatory and fraudulent mortgage lending activities that nearly caused the economic collapse of our Nation. {time} 1445 In fact, settlement agreements with two of these culpable financial institutions--Bank of America and Citigroup--required a donation of less than 1 percent of the overall settlement amount to help affected consumers. H.R. 5063 is a dangerous measure that would undermine the ability of civil enforcement agencies to hold wrongdoers accountable and to provide complete relief to victims.…”