Nydia Velázquez

I am proud to introduce the STEP Improvement Act of 2020.

I urge all Members of this committee to support this bill.

I can't help but question the fact that you reviewed those plans that were materially deficient, but you concluded that they were acceptable.

That is exactly what this committee expects from you. You set a deadline of April 2020. That is the type of action that we need.

I don't like being misled, and I don't really like being lied to.

Madam Chairwoman, I yield back, and thank you for holding this hearing, fulfilling our responsibility of oversight.

So, sir, as we have been discussing, and you are the third CEO to come before this committee, Wells Fargo's failure to comply with the Fed's 2018 consent order derives from a culture that is focused on profits instead of risk management.

I am proud that the Emergency Funding Bill, which included money for vaccines and testing, will also help small businesses access federal loans.

I urge colleagues on both sides of the aisle and the administration to work together on a coordinated government-wide plan to respond to the coronavirus.

We must also realize this is a public issue as well, and I encourage everyone to plan, prepare, and to not panic.

Let us remind everyone, Members of this Committee, that the US territories are part of the United States.

the SBA 2021 budget proposes an 18 percent cut to the overall budget and a whopping 37 percent cut to the entrepreneurial development programs.

I just want to be very clear that I reject such a steep cut to this and that we will do everything within our power to fight that.

We hear you on the issue of access to capital and the problem that we have at this point with SBA's interpretation.

I look forward to hearing from our distinguished panel of witnesses today about the benefits of employee ownership of business.

Would you agree with Governor Brainard's comment that it is more important to get the rule right than to do it quickly?

The Fed and other regulators should utilize financial stability tools under the Dodd-Frank Act.

Representative Porter and I have been concerned by banks' growing reliance on cloud-based service providers for data storage needs.

Chairman Powell, I would like to follow up on Chairwoman Waters' question on CRA.

Comptroller Otting is planning to gut the Community Reinvestment Act. Chair Clayton is planning to gut shareholder resolutions, and both of these are being based, in part, on astroturfing.

Thank you, Mr. Chairman, and Mr. Ranking Member, for holding this important hearing.

Would you share the underlying data that was used and what analysis was conducted in developing this performance threshold?

Do you commit to delaying your proposal until CRA advocates and consumer groups feel their voices have been sufficiently heard?

That is why it is so important that you expand the time to 120 days.

What type of analysis was conducted to measure the proposal's input on CRA lending and investment in LMI communities?