On the recordOctober 22, 2019
I yield to the gentleman from North Carolina (Mr. McHenry). Mr. McHENRY. Mr. Chair, I appreciate my colleague for yielding. I think this highlights the very fact that this bill provides no regulatory relief for financial institutions to collect information under the customer due diligence rule. It highlights the nature of this obligation, especially on small businesses, and the paperwork burden on small businesses and, on top of that, the paperwork burden on financial institutions to collect enormous amounts of information. The very nature of this amendment highlights the missing elements of the underlying bill. Mr. Chair, I appreciate my colleague for yielding.
