Political Quotes

“Mr. Speaker, I rise today in strong support of this rule because it is time to, once and for all, end the harmful regulations caused by this disastrous law. Mr. Speaker, let me take just a few moments to talk to you about the harmful effects Dodd-Frank has had on my home State of Texas. As of just a few months ago, in Texas alone, 358 State or federally chartered banks, credit unions, or thrifts have either closed or merged since 2010, when Dodd-Frank became law. According to our Texas State Banking Commission, the last bank or credit union chartered in Texas was in 2009, in a State with one of the healthiest economies in the country. Mass consolidations and closures have left many Texans few options, something the previous administration promised. While Dodd-Frank aimed at fixing our recovering financial system, one-size-fits-all regulations have only hurt one person: the consumer. Increased bank fees, less access to consumer credit products, 1,000- page rules, and billions of dollars in regulatory costs all have become the hallmark of our financial system over the last 7 years. To my friends on the other side of the aisle, I will leave you with this: If you support crushing regulations that have hurt our community banks and our credit unions, if you support taxpayer bailouts, if you support an agency that is accountable to none, and if you support less accountability for both Washington and Wall Street, would you please vote against this rule and the underlying bill?…”