Steve Stivers: “I thank Chairman Crenshaw for his great work on this bill. Mr. Chair, I rise in support of the underlying bill, which…”

“I thank Chairman Crenshaw for his great work on this bill. Mr. Chair, I rise in support of the underlying bill, which provides $21.7 billion in funding and targets resources to programs across multiple agencies that will boost economic growth and opportunity. It will protect consumers, protect investors, promote an efficient Federal court system, and stop financial crime. My colleagues will be pleased to know that the bill includes language that prohibits the IRS from targeting specific individuals who are exercising their First Amendment right. I support that language as well. The legislation also includes provisions that increase the oversight of the Consumer Financial Protection Bureau, or the CFPB. It puts the agency in the normal, annual appropriations process, like we are doing here today; and it replaces the single Director at the head of the agency with a five-person commission that is similar to those of other agencies that are charged with regulating our financial markets. I also want to take a moment to speak in support of bipartisan language in the bill that would pause the CFPB's proposed rule on short-term lending. The Independent Community Bankers of America and the Credit Union National Association recently wrote the CFPB to voice their strong opposition to this rule. They fear that this rule will force them out of the short-term credit market and stop them from serving millions of consumers across our country.…”