Political Quotes

“I have an amendment at the desk. The CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Add at the end the following new section: SEC. 6. ANALYSIS OF REGULATIONS. Section 1022 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5512) is amended by adding at the end the following new subsection: ``(e) Analysis of Regulations.-- ``(1) In general.--Each time the Commission proposes a new rule or regulation, the Commission shall-- ``(A) carry out an initial regulatory flexibility analysis for such proposed rule or regulation, which shall be carried out as closely as possible to those initial regulatory flexibility analyses required under section 603 of title 5, United States Code, but which shall analyze the financial impact of the proposed rule or regulation on covered persons, regardless of size; and ``(B) carry out an analysis of whether the proposed rule or regulation will impair the ability of individuals and small businesses to have access to credit. ``(2) Report.--The Commission shall issue a report to the Council on each analysis carried out under paragraph (1), and make such analysis available to the public. ``(3) Use of existing resources.--The Commission shall use existing resources to carry out the requirements of this subsection.''. The CHAIR. Pursuant to House Resolution 475, the gentleman from Virginia (Mr. Rigell) and a Member opposed each will control 5 minutes. The Chair recognizes the gentleman from Virginia.”