Political Quotes

“I thank Chairman Hill for yielding me time to discuss this important issue. Mr. Speaker, it is no secret that the sky was the limit when it came to regulations for the last administration. Our Nation endured 4 years of costly new rules, rules that continue to wreak havoc on our economy and stunt economic growth. Indeed, it is going to take some time to undo the mess from the last White House. S.J. Res. 18 puts us one step closer to cleaning up this mess. It calls the Consumer Financial Protection Bureau's overdraft rule what it is: drastic, punitive, and harmful to banks and credit unions. It also stands to harm the very people it purports to protect. Mr. Speaker, I share with you today a story of a lady in one of the towns in my district, Lafayette, who said to me fairly recently: ``Please don't take away my overdraft protection.'' If the Consumer Financial Protection Bureau requires banks to charge no more than $5 for a $200 overdraft, we will likely see an end to that service altogether. No one wants to overdraft. Unfortunately, it isn't uncommon. In fact, many Americans can recall using overdraft services and them being a lifeline at one point or another in their lives. This is just one of many examples of overreach by the last administration, and it must be overturned. In America, we celebrate capitalism. We encourage competition. We don't smother our financial institutions just for political favor. Mr.…”