Political Quotes

“Mr. Speaker, I ask unanimous consent to include in the Record a letter of support for proposed section 1071, CFPB rule, which highlights the benefits of collecting lending demographic data for small farmers and farmers of color. The SPEAKER pro tempore. Is there objection to the request of the gentlewoman from New Mexico? There was no objection. November 27, 2023. Support for CFPB Section 1071 Rule and Opposition to Congressional Review Act to Overturn 1071 Rule Hon. Mike Johnson, Speaker of the House of Representatives, Washington, DC. Hon. Hakeem Jeffries, Democratic Leader of the House of Representatives, Washington, DC. Dear Speaker Johnson and Leader Jeffries: We, the 84 undersigned organizations, write to express strong support for the Consumer Financial Protection Bureau (CFPB)'s Section 1071 rule on Small Business Lending Data Collection under the Equal Credit Opportunity Act, and also to express strong opposition to any Congressional Review Act resolutions that would overturn CFPB Rule 1071. Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to compile, maintain, and submit to the Bureau certain data on applications for credit for all defined small businesses, including women and minority-owned small businesses. To be clear, Section 1071 is not optional--it is legally required by Dodd-Frank.…”