Political Quotes

“I thank the chairman. I rise in support of the gentlewoman from Utah's bill that would allow more small bank holding companies to raise the necessary capital to better serve not only their customers, but their communities. H.R. 3791 would raise the consolidated asset threshold from the Federal Reserve small banking holding company policy statement from $1 billion to $5 billion. By simply raising this asset threshold, more institutions would be able to qualify for coverage under the policy statement and be exempt from the ongoing burdensome regulatory guidelines. My home State of New Hampshire is chock-full of community banks and community-based financial institutions, and having a higher threshold would help more community banks in my State and others across the country meet their higher capital requirements under Basel III. I appreciate this commonsense approach that the gentlewoman from Utah is taking, and I appreciate her leadership because just in my State, we have had a 20 percent reduction of community banks. That means the average individual who is looking for an additional loan, whether it is personal or to start a new business, they can't get access to that capital. That is hurting the very people that the other side tries to claim to support. Just last week I heard about a woman who recently was divorced, had two kids, and is a nurse. She was looking for a mortgage to start her new life again. She was denied because of these burdensome regulations.…”