Political Quotes

“I would first like to thank Mr. Luetkemeyer and Mr. Sherman for authoring the bill before the House today. I would also like to thank Mr. Luetkemeyer for his hard work on the Financial Institution and Consumer Credit Subcommittee, where he has championed many initiatives to provide commonsense regulatory relief for small financial institutions. The House of Representatives has already passed one bill to remove an outdated requirement for duplicative disclosure of ATM fees on the machines--commonsense reform. I urge our colleagues in the Senate to pass both of these bills to provide this commonsense regulatory relief for banks and credit unions across the country. I know Mr. Luetkemeyer shares my concerns that in recent years Federal financial regulatory agencies have piled on more regulations without properly assessing the current regulatory regime to remove outdated, unnecessary, or overly burdensome regulations. Last year, members of our House Financial Services Committee urged the Treasury Secretary to make good on a promise from the summer of 2010 to take care, as the Dodd- Frank Act was implemented, to ensure that Federal agencies conducted a thorough assessment of the current regulatory structure, to ensure this opportunity to truly modernize and streamline the Federal code. We wanted to make sure this opportunity was not missed.…”