Political Quotes

“Madam Speaker, I rise today in fierce opposition to this resolution of disapproval. For the record, I was a former small business owner for decades. Let me also thank Ranking Member Waters for clearly clarifying the language. The CFPB rule seeks to increase transparency in small business lending to increase competition, to lower borrowing costs for small businesses, and to detect and deter lending discrimination and create new lending opportunities, particularly for small businesses owned by women, by people of color, LGBTQ individuals, and rural businessowners. This rulemaking is long overdue, as we heard. By requiring lenders to provide information about loan applications, including whether they were approved or denied, as well as pricing data in applicant demographics, the rule will enhance accountability, which we talked about, and ensure financial institutions are meeting the needs of the entire community. Wouldn't we want to know if we had a loan that was denied? The SPEAKER pro tempore. The time of the gentlewoman has expired.”