On the recordJuly 16, 2014
I have an amendment at the desk. The Acting CHAIR. The Clerk will report the amendment. The Clerk read 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. Mr. GARRETT (during the reading). Mr. Chair, I ask unanimous consent to dispense with the reading. The Acting CHAIR. Is there objection to the request of the gentleman from New Jersey? There was no objection. The Acting CHAIR. Pursuant to House Resolution 661, the gentleman from New Jersey and a Member opposed each will control 5 minutes. The Chair recognizes the gentleman from New Jersey.
