Gregory Meeks: “While we know, understand, and recognize that banks and other financial companies must be able to compete in an…”

“While we know, understand, and recognize that banks and other financial companies must be able to compete in an environment that will allow them to expand their powers and become competitive globally, and that our financial institutions are one of the most critical components to ensuring a healthy U.S. economy, our first and foremost responsibility is to those individuals who send us here to Washington each and every election day. Therefore, we must ensure that consumers as well as financial institutions benefit from banking reform. It is meant to protect them from the misuse of their confidential personal information, this amendment, for marketing or other purposes, maintaining their medical privacy, and to make certain that our financial institutions that receive the benefit of government support continue to contribute to the economic health of low- and moderate-income communities. Let me say, we must support CRA. It is an absolute necessity if we are to have a successful bill.”