Political Quotes

“First, let me start by thanking the chair of the Committee on Financial Services, Congresswoman Maxine Waters, for allowing me to bring this bill before the committee and for her support. Also, I thank the rest of the members on the Financial Services Committee for supporting this bill and moving the bill out of committee unanimously with a vote of 57-0. Madam Speaker, I also thank my colleague, Congressman Hill, for his words and his support on this very important piece of legislation. {time} 1730 My bill, the Expanding Opportunity for Minority Depository Institutions Act, H.R. 5315, would formally establish and codify the United States Department of Treasury's Financial Agent Mentor-Protege program into law. This mentorship program was established by the Treasury Department under the Office of Minority and Women Inclusion, otherwise known as OMWI, to facilitate the program. The relationship between minority-owned banking institutions and larger banks--which is very important and key to this piece of legislation--helps minority-owned banks improve their capacity to better serve their communities and their customers. At the same time it allows larger banks the opportunity to expand their network and facilitate potential subcontracting relationships with their proteges as well as receive credit under the Community Reinvestment Act.…”