Mike Flood: “I thank the chairman for yielding. Madam Speaker, I rise in support of S.J. Res. 32 providing congressional disapproval…”

“I thank the chairman for yielding. Madam Speaker, I rise in support of S.J. Res. 32 providing congressional disapproval of the CFPB's Small Business Collection Rule. I am a businessman myself, and I am proud to say that I have made a payroll every 2 weeks since I was 24 years old. I will tell you what happens in a situation like this. I am also a borrower. I am a borrower of small community banks across the State of Nebraska. If you pass something like this, if you go from 7 statutory data points to 81 data points, I am going to have to pay an accountant to sit down and sift through all of our business data to put this together for my bank, my lender, and hope that I get it right so that on the next bank exam, they are not calling me wanting a whole bunch more information. That is the real cost to small business. That is the real cost to businesses in this Nation. That is what people in this town forget. It is small businesses. It is small-town employers that make this country run, that make the money work, so that people can wake up and have cash in their pocket. I will say this: If you go from 7 points to 81 points, this is just another example where the CFPB has expanded the scope of the rule as far as possible.”