Political Quotes

“I do want to note the burden outweighs the cost on our residents back home. We need to be able to know exactly what is happening on the ground at home in regard to these kinds of practices and abusive behavior by payday lenders. We as a body need transparency and understanding of what is going through the CFPB, and we are not able to remedy these challenges for our residents without that information. Madam Chair, I hope that we can agree this is a bipartisan issue. This would impact a majority of our States across this Nation. Madam Chair, again, I hope I can get some support from my good colleague, and I yield back the balance of my time. Mr. McHENRY. Madam Chair, in my reading of the bill, I would suggest that when it says, ``the Director shall issue a quarterly report to Congress containing,'' and then in subsections 4 and 5 it says 12 months of data, that 12 months is--I don't want to be snarky about it, but 12 months is a year. So on a quarterly basis, CFPB has to provide 12 months of data. That is what I mean by on a quarterly basis CFPB has to provide an annual report. Twelve months being a year, a year being annual, filing yearly is annual. I don't mean to be completely snarky about it, but I think if we simply had an annual report, this would be a much better structured amendment. Madam Chair, while I oppose the amendment, I do so reluctantly. Madam Chair, I yield back the balance of my time. The Acting CHAIR.…”