Political Quotes

“Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, the ranking member has lamented that she has heard from few Democrats on this matter, so let me take the liberty of quoting from Congressman Greg Meeks, a Democrat from New York, the lead Democratic cosponsor of the bill, who said, during markup: This bill would facilitate such affordable lending to those who need it the most. He goes on to say: H.R. 3299 is a community bank bill. Fintech firms have partnered with small community banks and provided these institutions with technological expertise needed to contend with larger competitors. In fact, I'm aware that there are fintech firms engaging with Black-owned banks who have benefited tremendously from new technologies. Congressman Meeks goes on to say: H.R. 3299 is also a small-business bill. According to the Urban Institute, 34 percent of my constituents in Jamaica, Queens, who have bank accounts rely on alternative financial service providers, including rent-to-own agreements and refund anticipation loans because they have unmet lending needs. Madden does little to help these underbanked individuals. Instead, it shuts the door to more affordable bank loans facilitated through partnership models. Madam Speaker, I could go on, but what we are trying to do here is assure that what just happened in the Second Circuit, where credit opportunities are cut in half, doesn't happen nationwide.…”