Political Quotes

“Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, it is fascinating listening to my friends on the other side of the aisle. It is fascinating because they tell us they want to protect the single mothers. They tell us they want to protect the people of color. They tell us they want to help and protect the poor, but they are protecting them out of their home ownership opportunities. Because of the increased HMDA compliance on our smallest community financial institutions, they are ceasing to make these loans. But they will sleep well tonight in their apartments and in their rental homes, knowing that my good friends on the other side of the aisle protect them out of their ability to finally realize their portion of the American Dream and have that shot at home ownership. Mr. Speaker, how many people have to lose their home ownership opportunities due to the onslaught of the onerous Federal regulations? What is fascinating about this debate is that what they would discover is that HMDA is still the law of the land. Again, I would encourage my friends to actually read the bill. I think it is 3 pages long; maybe 3\1/2\ pages long. HMDA doesn't go away if we enact H.R. 2954. But what it says is that for our smallest financial institutions, the HMDA requirements, the doubling of HMDA requirements, the increased burden, will not be placed on our smallest financial institutions, as we are losing one every single day.…”