Jeb Hensarling: “Again, I would encourage the ranking member and all Members on the other side of the aisle to read the underlying bill.…”

“Again, I would encourage the ranking member and all Members on the other side of the aisle to read the underlying bill. It is 2 pages long. It has now been amended by perhaps a 1-page amendment. This has nothing to do with Wells Fargo. It has nothing to do with Equifax. It is limited to the annual paper notification from auto finance companies, pure and simple. Again, for those who listened to the earlier debate, the question is whether or not these auto finance companies are going to be forced to spend money that comes out of their customers' pockets to send out a paper notification of privacy policies even when the policy doesn't change, or whether or not we should modernize into the 21st century and ensure that there is continuous notification on a website and that a paper notification only goes out upon a change, an actual change. What the ranking member is doing with the motion to recommit is once again empowering the unconstitutional and unaccountable CFPB to engage in even more activities that harm consumers. It ought to be rejected, and we ought to ensure that we adopt H.R. 2396 and simplify and modernize one regulation that is harming consumers and harming financial institutions. Mr. Speaker, I urge rejection of the motion to recommit, and I yield back the balance of my time. The SPEAKER pro tempore. Without objection, the previous question is ordered on the motion to recommit. There was no objection. The SPEAKER pro tempore.…”