Political Quotes

“I thank the gentleman for his work on this. I also thank Mr. Womack and Mr. Himes of Connecticut for all of their work on H.R. 1334. I am thankful for the great bipartisan message that we just heard from the ranking member as well on the JOBS Act, and I will look forward to working with her even more for those technical corrections on the Dodd-Frank piece of legislation. I am looking forward to doing that going forward. As she says, there is little doubt that the JOBS Act did have a positive impact upon our economy, as evidenced by the boost in initial public offerings since 2012 and the number of companies, both public and private, that are taking advantage of some of the law's provisions right now. Title VI of the JOBS Act included an important provision that the gentlewoman talked about, that increased the outdated shareholder thresholds that determined just when banks and bank holding companies have to register with the SEC. These thresholds, by the way, they have been around for a long time. They haven't been changed for over four decades. What they were doing is they were basically forcing the smaller companies, the small banks, to register as full reporting companies with the SEC, and that is really a very costly burden on them. It is very often the case that it is inappropriate for small lenders who are already regulated and examined by a series of bank regulators. As the gentlewoman points out, we had a slight oversight in the drafting of the JOBS Act.…”