Maurice Hinchey: “Mr. Speaker, I have some very serious objections to the bill in chief, but I want to focus my remarks at this particular…”

“Mr. Speaker, I have some very serious objections to the bill in chief, but I want to focus my remarks at this particular moment on the rule. Although this rule, as has been noted, is a better rule and a more open rule than the one which was originally advanced for this bill some time ago, it is still, nevertheless, seriously deficient in that it is still too closed and not open enough. This particular bill, H.R. 10, is the most substantial and significant piece of financial legislation to come before this House in a very long time. I dare say that there will be few Members presently serving here who will vote on more significant legislation, even if they stay as long as the dean of the House, our revered friend, the gentleman from Michigan (Mr. Dingell), some 30 years. This bill is critically important and is far-reaching. Let me just talk a little bit about the issue of fees and how this rule refused to address the issue of bank fees. Customers of banks find themselves increasingly paying more and more and more in fees. This bill fails to address that problem, and the rule objected to our introducing an amendment which would have limited ATM fees.”