Political Quotes

“My friends are back again, those that we have a great deal of respect for. And I am reminded of my colleague, Congressman Cummings, who mentioned the enormous amount of foreclosures that our military families experience. Maybe we're not clear on what our new board really does, the Consumer Financial Protection Bureau. Let me make it clear. It makes prices clear; it makes terms and conditions clear; it ensures that mortgage disclosures are short, relevant, and understandable by consumers and lenders and military families; it lets consumers shop for the best product of that price; and it helps consumers understand the true cost of a financial transaction. It acts like a cop on the beat for our consumers. The Financial Stability Oversight Board has its role--to review the actions. But let me tell you what this bill has just done. In the Dodd-Frank bill, it has been a defined time schedule for the review to take place. So if you are, in essence, hanging with a bad foreclosure or some bad actions, this oversight board can review quickly the decision that the consumer board did to protect you. But you know what has happened now? They have given the oversight board an indefinite amount of time. This is in the backdrop of undergraduates carrying record-high credit card balances, $3,173. What my amendment does--it restores reality.…”