On the recordJuly 7, 2016
I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of the bill (before the short title), insert the following: Sec. __. None of the funds made available by this Act may be used to-- (1) designate any nonbank financial company as ``too big to fail''; (2) designate any nonbank financial company as a ``systemically important financial institution''; or (3) make a determination that material financial distress at a nonbank financial company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of such company, could pose a threat to the financial stability of the United States. The Acting CHAIR. Pursuant to House Resolution 794, the gentleman from New Jersey (Mr. Garrett) and a Member opposed each will control 5 minutes. The Chair recognizes the gentleman from New Jersey.
