Rashida Tlaib: “I thank our ranking member for yielding. Madam Speaker, the resolution that they are attempting to use to overturn this…”

“I thank our ranking member for yielding. Madam Speaker, the resolution that they are attempting to use to overturn this rule is about small business lending. We know that, but what is the problem? We are now afraid of data? We don't want to collect data? This is even voluntary. You are opposing a process that would help create more transparency, more information gathering, competitiveness, and a fair marketplace for lenders and small businesses. It is voluntary. We are scared now? We are scared of voluntarily collecting data? Section 1071 allows lenders to collect and report lending data, including voluntarily self-reported by businessowners. This rule does help small business, and I will give you some examples, particularly those owned by women, people of color. We are even going to collect data, especially in my district, of veterans, many of them Black men and women, who have started businesses after they served our country. They are all lacking access to credit that they need to build up their businesses. Study after study has documented that small business owners, especially the small business owners in my district, continue to face discriminatory practices by banks. We already know for a fact that Black-owned business are less likely to obtain financing and are offered smaller loans. Section 1071 will make it easier to eliminate such practices and enforce our fair lending laws--again, to enforce our fair lending laws. Maybe that is why.…”