Political Quotes

“I rise as the designee of Ranking Member McHenry, and I have an amendment at the desk. The SPEAKER pro tempore. The Clerk will designate the amendment. The text of the amendment is as follows: Strike all after the enacting clause and insert the following: SECTION 1. REQUIREMENT FOR CONFESSIONS OF JUDGEMENT. (a) In General.--Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended by adding at the end the following: ``Sec. 140B. Unfair credit practices ``In connection with the extension of credit or creation of debt in or affecting commerce, as defined in section 4 of the Federal Trade Commission Act (15 U.S.C. 44), including any advance of funds or sale or assignment of future income or receivables that may or may not be credit, no person may take or receive from another person an obligation that constitutes or contains a cognovit or confession of judgment (for purposes other than executory process in the State of Louisiana), warrant of attorney, or other waiver of the right to notice and the opportunity to be heard in the event of suit or process thereon unless the other person provides to the lender a written affidavit describing the nature of the default and the date on which such default occurred.''. (b) Technical and Conforming Amendments.--The Truth in Lending Act (15 U.S.C.…”