Political Quotes

“I am pleased to be here for the second time in as many days to discuss a bill from Mr. Tipton, my friend and our colleague from Colorado. I commend his dedication to find ways to bring more credit options to more Americans. This bill is no exception to that, and I thank him for sponsoring it. This Nation is founded on the idea that those who enforce the law are not those who ultimately judge those laws. This idea of due process is something all Americans respect and we enjoy, but in the case of financial institutions, there has been a noted lack of such process during appeals. If a bank or credit union today is assessed a postinspection penalty that they feel is based on inaccurate or incomplete information, the only recourse is back to the regulator that performed the inspection in the first place. Such an argument turns the concept of proper process upside down. At the very least, I think we would all agree with a number of my colleagues who have noted that the judge, the jury, and the executioner should be separate. There has to be a better way. This bill provides that better way by giving these institutions a new recourse so they can be assured of fair treatment. We all know this could be an expensive and time-consuming process for a bank or credit union, which is all the more reason to provide fair treatment.…”