tv U.S. House of Representatives U.S. House of Representatives CSPAN May 22, 2018 12:59pm-3:00pm EDT
the speaker pro tempore: pursuant to clause 8 of rule 20, the chair will postpone further proceedings today on motions to suspend the rules on which a recorded vote or the yeas and nays are ordered. or votes are objected to under clause 6 of rule 20. the house will resume proceedings on postponed questions at a later time. for what purpose does the gentleman from virginia seek recognition? mr. goodlatte: mr. speaker, i move to suspend the rules and pass h.r. 5682, the first step act, as amended. the speaker pro tempore: the clerk will report the title of the bill. the clerk: h.r. 5682. a bill to provide for programs to help reduce the risk that
prisoners will recidivate upon release from prison and for other purposes. the speaker pro tempore: pursuant to the rule, the gentleman from virginia, mr. goodlatte, and the gentleman from new york, mr. nadler, will each control 20 minutes. the chair recognizes the gentleman from virginia. mr. goodlatte: mr. speaker, i ask unanimous consent that all members may have five legislative days within which to revise and extend their remarks and include extraneous materials on h.r. 5682 currently under consideration. the speaker pro tempore: without objection, the gentleman is recognized. mr. goodlatte: mr. speaker, i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. goodlatte: mr. speaker, the house is not in order. the speaker pro tempore: the gentleman is correct. the house is not in order. the members will take conversations off the floor. the gentleman is recognized. mr. goodlatte: mr. speaker, i rise in strong support of h.r. 5682, the first step act. the bipartisan bill before us is a meaningful, historic criminal justice reform measure. the first step act places a new
focus on rehabilitation. while we recognize criminal behavior needs to be punished, and criminals need to be incarcerated, we must also acknowledge that our prison population needs to be rehabilitated to the greatest extent practicable. the bill establishes a risk and needs assessment as the basis of both on an effective recidivism reduction program, and an efficient and effective federal prison system. the first step act will incentivize prisoners to participate in evidence-based recidivism reduction programs. productive activities. and jobs that will actually reduce their risk of recidivism. we know that over 90% of all prisoners within the bureau of prisons will be released someday. that is an indisputable fact. we also know that without programming and intervention, which can train prisoners to be better citizens, not better criminals, prisoners are more likely -- prisoners are more
likely to recidivate. mr. speaker, rather than allowing the cycle of crime to continue, this legislation takes a practical, intelligent approach to rehabilitation. by using a focused approach for each prisoner, we can lower the risk of recidivism. that's what h.r. 5682 does. fewer recidivists means fewer prisoners in the future. it means greater savings to the american taxpayer, more importantly it means safer communities, fewer crimes and, of course, fewer victims. it also means greater opportunities for people once they leave prison. this bill is important because when prisoners who have received intervention and rehabilitation are released, they are less likely to commit crimes. when that happens, our streets are safer and innocent civilians are less likely to be victimized. rehabilitated prisoners are more likely to leave the life of crime behind, become productive members of society, and contribute to their communities.
if that isn't meaningful, mr. speaker, i don't know what is. i know there are some in this body that are opposing this legislation because it does not include sentencing reform. i support sentencing reform. and have worked with my colleagues to find common ground on that issue. however, we should not let this opportunity pass by. the vast majority of members of this house agree that this legislation is needed. let us not linger any longer. let us move this important and meaningful bill today. just look at the bipartisan support from outside interest groups that the first step act has received. numerous organizations, almost too many to list in the allotted time we have, on both the left and the right have enthusiastically endorsed this bill. finally, mr. speaker, i want to thank the chief sponsors of h.r. 5682. the gentleman from georgia, mr. collins, and the gentleman from new york, mr. jeffries.
they worked tirelessly to get this bill to the floor and both should be applauded for their bipartisan approach to this issue. i urge my colleagues to support the first step act and i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from new york is recognized. mr. nadler: mr. speaker, i yield myself four minutes. the speaker pro tempore: the gentleman is recognized. mr. nadler: mr. speaker, i rise in opposition to h.r. 5682, the first step act. on principle i cannot support legislation which fails to address the larger issues of sentencing reform, and the -- this makes modest improvements, it actually does more harm by cementing into our system new areas of racial biases and disadvantage that make worse a criminal justice system desperately in need of reform. despite the bill's good intentions, the new incentive system for pre-release custody credits could exacerbate racial biases and unlike previous
criminal justice efforts, it's not balanced with the necessary reforms to our federal sentencing system. as monday's "new york times" editorial observed, a partial bill could end up being worse than nothing. the bill excludes large categories of inmates based on convicts for various offenses and on immigration status from being eligible for the pre-release custody incentives established by the bill. second, certain prisoners who are eligible to participate in the incentives system and who successfully participate in recidivism reduction programs would face being relied early entry to pre-release custody if such inmates are judged to have a heyer than low recidivism risk under the new system. it would be unfair to deny these prisoners what they have earned and it is counterproductive for all of us to in effect create a disincentive for prisoners who need recidivism programming from engaging in it. third, the combination of these factors implemented through a problematic risk assessment
tool could operate to exacerbate racial and socioeconomic disparities already present in the criminal justice system. as the leadership conference on civil and human rights, the aclu, -- aclu, the naacp, the national immigration law center and dozens of other advocacy groups warn, the exclusions could have a disparate impact on racial minorities, closed quote. i want to acknowledge the tremendous work of my colleagues on the judiciary committee, representatives jeffries, richmond and basket, particularly for their efforts to improve the legislation. i wholeheartedly support certain provisions in the current version of the bill, such as expanding time credits for good behavior, banning the shackling of women prisoners and the enhanced compassionate release. but unfortunately these good provisions do not outweigh the potentially harmful provisions contained elsewhere in the bill. perhaps most importantly it is clear that prison reform alone will not ameliorate the crisis of mass incarceration unless we address the principle cause of the problem.
under sentencing laws. as former attorney general writes in today's "the washington post," to reform america's prisons, we must change the laws that send people to them in the first place. anything less represents a failure of leadership. it is unfortunate that after waiting nearly a year and a half to take up the issue of criminal justice reform, the majority was unwilling to subject h.r. 5682 to a single legislative hearing, or even bother to obtain a cobb score so we could understand -- c.b.o. score so we could understand its impact. we cannot accept opposition to sentencing reform by a trump administration that changes its legislative positions on a near daily basis, and that has already done so much to weaken and undermine the criminal justice system. nor do i believe more balanced reform is not viable, when senator grassley, the chairman of the senate judiciary committee, told us that, quote, for any criminal justice reform proposal to win approval in the senate, it must include sentencing reform. although i oppose this
legislation, i remain fully committed to achieving balanced reform as part of an effort to make our criminal justice system more just and our constituents more safe. but i do not believe that passing this bill today would contribute to that goal. i therefore urge an opposition vote and reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from virginia is recognized. mr. goodlatte: mr. speaker, i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from new york is recognized. mr. nadler: i now yield one minute to the gentleman from minnesota, mr. ellison. the speaker pro tempore: the entleman is recognized. mr. ellison: ill like to thank the gentleman for yielding. i urge my colleagues to vote in favor of this first step -- i'd like to thank the gentleman for yielding. i urge my colleagues to vote in favor of this first step act. i spent many years defending people accused of crimes, some
of whom i'll never forget. ne is a woman named daniela, she got charged with possession of crack cocaine, she was looking at about 60 months based on her amount. she had a small child, there were no weapon the prosecutors told her if you tell on your boyfriend, we'll take you to state court. if you don't, we're taking you to federal court. they took her to federal court and try as i did, she ended up getting 60 months in prison, got taken away from her child. i remember the screams of that little boy as they walked his mother into custody. ky not imagine asking her to stay in prison longer than she needed to. i cannot imagine not giving every opportunity to improve her life and her skills. so i urge a yes vote and i do so with a lot of enthusiasm today.
the speaker pro tempore: the gentleman's time has expired. the gentleman reserves. the gentleman from virginia is recognized. mr. goodlatte: i continue to reserve. the speaker pro tempore: the gentleman continues to reserve. the gentleman from new york is recognized. mr. nadler: i yield one minute to the gentleman from rhode island, mr. cicilline. the speaker pro tempore: the gentleman is recognized. mr. cicilline: i rise in strong support of the first step act. i supported this bipartisan bill in committee because it will help more ex-offenders re-enter the work force, reduce recidivism. this is just the first step in fixing our criminal justice system. we recognize there's a lot more to do a lot more we must do, but this is an important start. i remind folks that this bill allows folks to -- prisoners to earn seven days off their sentence for every year of good havior, it funds rehabilitation, it prevents the shackling of pregnant women. it will not only reduce se
re-sid vism but enhance the safe i have to our communities by making sure folks have the ability to enter drug treatment and job training and avail themselveses of these services. these are commonsense ideas. i hope everyone will support this bill. i urge memy colleagues to vote for the first step and commit themselves to continue to build on this, there's much more work to do in sentence regular form and criminal justice reform broadly. i thank the gentleman for yielding. the speaker pro tempore: the gentleman's time has expired. mr. goodlatte: i continue to reserve. the speaker pro tempore: the gentleman from virginia reserves. the gentleman from new york is recognized. mr. nadler: i yield two minutes to the gentleman from illinois, mr. davis. the speaker pro tempore: the gentleman is recognized for two minutes. mr. davis: thank you, mr. chairman. mr. chairman, i commend the judiciary committee for its tremendous work to bring this bill to the floor. they have put forth tremendous
effort, tried every way in which they could think of to compromise, but notwithstanding the effort, i find myself not in a position to vote in favor of the bill. one of the reasons is that many of the organizations and groups with whom i have worked over the years are in opposition. they are people who are on the ground floor of criminal justice reform. they recognize that if we're going to prvide an opportunity to seriously reduce mass incarceration, we have to make provisions for individuals to regain some sense of reality regarding what got them into prison in the first place. so i appreciate all of the
effort. i think we've got too much authority being given to the attorney general. i wish we had been able to get closer to what people i work with daily would be in agreement with. unfortunately, we did not, unfortunately, i support not passage of the bill but i support continuing to work to find the real hard-nosed solutions that we need. so i thank you, mr. speaker. and yield back the balance of my time. the speaker pro tempore: the gentleman's time has expired. the gentleman from virginia is recognized. mr. goodlatte: at this time it's my pleasure to yield such time as he may consume to the chief sponsor of the legislation, the gentleman from georgia, mr. collins f -- collins a member of the judiciary committee. the speaker pro tempore: the gentleman is recognized. mr. collins: thank you, mr. speaker. i want to thank my colleague and
chairman, mr. goodlatte. the chairman has been a great supporter of working toward finding solutions. i think that's what we're here for today is finding solutions. i want to thank the chairman for his work on this, for taking this and moving it forward on a lot of different fronts. but also as we look forward here, mr. speaker, there's some things i want to clear up. there are some people i want to thank. hakeem jeffries and i, i couldn't ask for a better partner to work through the i wantry kacies of big sloughs and big problems. these are big problems. hakeem and i said let's take a look and see what we can fix. what's going to be said today is many things, i like this legislation, i like parts of this legislation, i like the legislation but it doesn't go far enough. if it just did a little more. if this place produced perfect -- fazz this place produced perfect results every time. we want to wait. i ask those who choose to vote no today, my question is this. sit ok to make progress on many other thing bus on this one say
no? say no to a family who has a family member in prison who could get treatment and get help and get them back out so when they come home which over 90% of all prisoners in this country do, they come home. is it ok to say no to those folks and say we're not going to proid -- provide that for your family member. we're not going to provide extra treatments so they can get help with addiction or work problems or anger management or skill deficits or education deficits? no it's not. is it ok today to vote no and say, i like a lot of this bill but i want to continue to shackle women as they have babies? it's a pretty simple understanding. i get it. i want to see sentence regular form too. i'm on record as saying i do. i'm on record as continuing past this to actually do that. hakeem and i have talked about this more than we would ever imagine we would. congressman jeff vees a great partner in this effort.
this bill is real and meaningful reform. senator cornyn, senator whitehouse across the way in the senate have taken steps to have actually introduced the same bill and are working to do this the president has said, this is something that can be signed , in fact the president, mr. speaker, last week said americans -- america is a nation that believes in second chances this efirst step act gives those second chances, gives us hope. it gives us an ability to look at people as i have said on this issue, it's a money and moral issue. in states like georgia, and kentucky, and oklahoma, and texas, and new york and california, these issues have been discussed, evidence-based approaches have worked. we've seen it, mr. speaker. work in our home state of georgia. we've seen evidence-based approach be the way that you need to go in this bill -- and this bill prvidse the protection and provides the incentive for this to work. there have been many discussions on why we shouldn't. many people in recent days coming forward. i think it is pretty amazing to
me though, i'm just going to have to be honest, for the former attorney general to come out and say, this is not enough and say that the current department of justice could do some of this, i have one question for the former attorney general, where are you when you held the office? why didn't you do something then? if it was within your grasp, why did you turn a deaf ear to the cries of families who were in need? why did you decide not to do something? and now wige in on something congressman jeffries and many others have put their heart and lives into and weigh in and say it's not enough. look into those families, mr. former attorney general, and tell them it's not enough. easy to write an op-ed, it must be a lot harder to do it when you have the job. so as we look forward here, this is a positive piece of legislation. this is something that we can look forward to and doing, when off chance to give those
prisoners the opportunity to cut the very things down in their life that cause them to get there to start with. when we begin to look teat reasons they were there, and they are multiple, then we are taking a first step toward solutions. a first step toward hope. a first step toward making a difference so that we can then see, we can take this first step, maybe we can get some of our colleagues to take that next step into sentencing reform and other areas we have worked on, that the chairman has worked on and advocailted and others across that the senate have advocated for. if we choose not to do that today, you're saying no to the future. congressman jeffries and i believe yes to the future. i know when we have worked on this, it is about what we can accomplish and how we can accomplish it in a way that is meaningful to others. when we look at this, though, i also find it rather interesting, mr. speaker, the groups that have come together here. as we went around talking about this, we went to so many different groups from the left
and right that say, this is a great first step they feel justice action network, the american conservative union, prison fellowship, faith and freedom coalition, the heritage action and many, many more, both on the left and right, that have said this is good. this is something we can move on. this provides that hope that we are searching for. to the bill's detractor, i respect injure opinion. to the bill's rede-tractors, i just say, why not? and if why not, why not here? and if whoy why not and why you don't want to here, when? is it ever good enough? can we ever get to a point? i think one of the things, mr. speaker, that we often deal with here is the art of the possible. today is about the art of the possible. we have an administration who says we'll sign the bill. jared kushner has been such an advocate for this and worked with the administration to say we'll put forth the effort to make this work. we have partners in the senate
who say we want to work and do even more. i'm glad of that. i have a partner here and many who have come alongside of us and spoke to say, let's do something today. today is about action. today is about being a part of something bigger than ourselves. this is a day when we can come to the floor of this house and be proud of why we are here. a bill so many times, we come down and look at this bill and we see paper and we see words on paper, but i tell you what i see, mr. speaker. i see the faces of the families behind these words. i see the faces of the families behind these words. it is actually going to help. so when you look at this vote, look at this bill, my question is, look beyond the pieces of paper. look beyond the ink. look to the families that will be helped. when you cast that yes vote, you're saying i want to do something and i'm not afraid to wait on something i might want but know that i can take a step further now. it's very simple. vote yes to move it along or vote no and say no to those in
need. i can agree and disagree about a lot of parts. but this is about the people behind the bill. before i go, mr. speaker, in addition to the committee and committee staff that have been so great, and the chairman working on, a few weeks ago i had the chance to talk about a as a steel of mine mag noel yasm today, john farrell from my staff a new york native who works for a georgia member, has earned for me on this the highest praise. he is now as you'll see in all the groups that work on this he's a bulldog. he's worked this over and over. and he's worked it to find solutions. and for that, i am thankful. and for that i am proud. mr. speaker,s that good bill. you can come up with every reason you want to to vote no. and that's ok, i guess. but remember, there are families watching today. there's incarcerated people watching today.
and my question is, will you vote for them or will you vote to hold up something that may or may not happen? for that, mr. speaker, i yield back. the speaker pro tempore: the gentleman yields. the gentleman from virginia reserves. the gentleman from new york is recognized. mr. nadler: i yield one minute to a member of the judiciary committee, the gentlelady from california, ms. bass. the speaker pro tempore: the gentlelady is recognized for one minute. ms. bass: thank you, mr. speaker. i rise today in support of the first step act. there are thousands of women who are incarcerated while pregnant. my language in the first step act addresses the treatment of pregnant inmates and the use of shackles. the current system is based on a male model that fails to meet the fwl and mental health needs of women and occurring at a time when women are the fastest growing population in our prisons and jails, increasing in number by over 700% since the 1980's. the treatment of incourse rated women is particularly glaring in pregnancy, delivery and most
partum. pregnant women must be provided appropriate prenatal care. we can also say it defies common ense and logic to use shackles on a woman delivering a baby. the practice continues despite no reported instances of women attempting to escape when used.es are not if anyone knows of a woman who can jump up and tackle an armed guard in the middle of giving birth. woman one recounted being shackled after a c-section. she was handcuffed and a chain was link aid cross her belly. she stated with the weight on my stomach, it felt like they were ripping open my c-section.
we must institute federal standards, educate correction officers, medical personnel and pregnant inmates regarding the standard of care for pregnant women. women must be a part of the debate on prison and sentencing reform. i look forward to introducing additional legislation to highlight this issue. i yield back my time. the speaker pro tempore: the gentlelady's time has expired. the gentleman from virginia is recognized. mr. goodlatte: i reserve. the speaker pro tempore: the gentleman from new york is ecognized. the gentleman from new york. mr. nadler: mr. speaker, i now yield one minute to the gentleman from louisiana, a member of the judiciary committee, mr. richmond. the speaker pro tempore: the gentleman is recognized for one minute. ms. richardson: thank you to my ranking eab -- mr. richmond: thank you to my ranking member and thank you to the chairman. let me thank congressman jeffries and congressman collins for this first step. does it go as far as i would
want it to go? it doesn't. but is it's a substantial step -- but it's a stub stangs step in the right -- substantial step in the right direction. we are talking about ways to help those who are incarcerated, one, when they get out, two, to better themselves when they're already in. one of the things we do in this bill is -- is to move inmates closer to their families so they can keep that family connection so that they can continue to be a part of the family, which also reduces recidivism. we also fix the good time problem that has happened. for every seven days that you increase -- increase good time, you save $50 million a year. not only did we fix it this year, but we fixed the problem, b.o.p. interpreting the law, contrary to congressional intent if the first place. so this bill does, i believe, a significant step in the right direction. not to mention the $250 million towards restoretive justice and
other ways. hopefully the savings from this bill will continue to go towards criminal justice and will continue to take second and third steps -- and we'll continue to take second and third steps. with that, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from virginia is recognized. mr. goodlatte: mr. speaker, i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from new york is recognized. mr. nadler: mr. speaker, i now yield two minutes to the gentleman from new york, distinguished member of the judiciary committee, mr. jeffries. the speaker pro tempore: the gentleman is recognized for two minutes. mr. jeffries: let me first just thank chairman goodlatte, as well as several distinguished members of the judiciary committee. in particular, cedric richmond and karen bass, for their leadership on this issue. and of course my good friend, doug collins, for being a phenomenal champion of improving the lives of currently incarcerated individuals. folks who have no time for political games. these are individuals who are in the system right now, without hope, without opportunity, without a meaningful chance at
transforming themselves. and the first step act will provide that. it will give them an opportunity to get educated now. give them an opportunity to get vocational training now. a g.e.d. now. a college education now. to give them the opportunity to deal with their substance abuse problem now. mental health counseling now. why would we possibly refuse that? these individuals are amongst the least, the lost and the left behind. and we have an opportunity in a bipartisan way to make a difference in their lives in so many areas. any objective reading of this bill is that it will improve their quality of life. and what's so wonderful about this is you have the right and the left, conservatives and progressives, united in this effort. nothing meaningful is ever
easy. but the mass incarceration epidemic has been with us for almost 50 years. you will not just take one legislative magic wand and wipe it away. in one shot. it will require sustained effort, sustained intensity, sustained commitment, and a meaningful first step. that is what this bill represents. i urge all of my colleagues to support this effort, to transform lives. save taxpayer dollars. and dramatically reduce recidivism now. the speaker pro tempore: the gentleman's time has expired. the gentleman from virginia is recognized. mr. goodlatte: mr. speaker, i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from new york is recognized. mr. nadler: mr. speaker, i now yield two minutes to a member of the judiciary committee, the distinguished gentlelady from washington, ms. jayapal. the speaker pro tempore: the gentlewoman is recognized. ms. jayapal: thank you, mr. speaker. there is one thing everybody
agrees on and that is, it is past time that we face the institutionalized racial inequity that is built into every single step of our mass incarceration system. we know that mass incarceration disproportionately effects people of color and that today women in prison are sadly the fastest growing demographic, frequently caught up with the arrests of their partners and struggling with mental health and addiction. and this bill does take important steps forward and i want to say that it is a very good-faith effort on the part of the bill's two sponsors. my friend, hakim jetchriss, and representative doug collins -- jeffries -- hakim jeffries, and representative doug collins. unfortunately, mr. speaker, i cannot support the bill because i have seerns concerns about how the bill -- serious concerns about how the bill, create -- how the bill creates, develops and implements a risk assessment system on a very quick timeline by someone that frankly has not spent his career opposing criminal justice reforms. and in fact has fought attempts to advance racial justice. and that is attorney general sessions.
this is a special -- this is especially concerning given that research shows us that risk assessments produce racial disparities and this bill does not address sensing -- sentencing reform which is an issue that has bipartisan support and is the crux of the problem today. in addition, mr. speaker, i'm very concerned about language in the bill that excludes immigrants from being eligible for time credits. the bill excludes long-time legal permanent resident, green cardholders who may have committed the exact same crimes as others and may be eligible for relief under u.s. law, shouldn't redemption, if we are making redemption available, shouldn't it be available for everyone, regardless of immigration status? for the same set of crimes? moreover, continued incarceration of these people simply based on citizenship status is a waste of taxpayer dollars and unnecessarily keeps families separated. the reality is that these are deeply important issues and this bill shows that we have the capacity to work in a bipartisan way. even with all the good work and
even for a first step to do. unfortunately i believe we have more work to do to get to the place where our morals are being consistently applied. i look forward to doing everything i can to work on this. thank you and i yield back. the speaker pro tempore: the gentlelady's time has expired. the gentleman from virginia is recognized. mr. goodlatte: mr. speaker, i'm prepares to close whenever the gentleman from new york is. i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from new york is recognized. mr. nadler: mr. speaker, i have one further speaker and then i'll be prepared to close. mr. speaker, i now yield four minutes to the distinguished ranking member of the subcommittee on crime, the gentlelady from texas, ms. jackson lee. the speaker pro tempore: the gentlelady from texas is recognized for four minutes. ms. jackson lee: mr. speaker, i too want to offer my appreciate -- my appreciation for all of
my colleagues, in particular those who have offered this legislation. recall in the congress preceding this, we offered a combination of comprehensive criminal justice reform, bipartisan. took bills that included prison reform and sentencing reform, and we're really on the way to passing that combination of very important partnership. and unfortunately the politics of that time got in the way. but my appreciation to mr. jeffries and mr. collins, and it really is the coming together of members who really attempted, mr. nadler worked very hard to inject very
important provisions, and many other members, and they even did so on the day of the markup. mr. l but one that richmond, jackson lee, jayapal, and mrs. demings put in retroactivity, all but one failed in the committee. so let me give an open letter to the mothers and fathers of incarcerated persons who are in our constituency, and as well to those inmates who may by chance be looking at this debate. having recently visited one of the federal centers, i know that inmates are astute and concerned about their future. so i think it is important to why ish to those parents democrats have consistently tried to sew together, tried to
stitch together the idea of sentencing reduction and prison reform. elements of this bill are striking and good. but is it more exciting for you to know that your son who had an excessive sentencing because of mandatory minimums, and you who are incars rated have why you -- who you are -- you who are incarcerated have your sentence reduced than maybe on the back end? it is important to note that all of those, if this bill is passed, will participate in the rehabilitation programs. but it is also important to note that the prison bureau, bureau of prisons, has closed halfway houses, that is a component of this bill. and as well they have reduced and cut the numbers of individuals who are corrections officers to the extent that corrections officers feel
endangered and that augmentation has been used. that means that nurses and teachers and others who are inside the prison are being used to augment the staff of correction officers, which have been fired or terminated, rather, under this administration. in a letter from the b. omple p. union were the -- b.o.p. union president they indicated that they are severely understaffed and it will be difficult to implement this bill without those aspects being remedied. meaning, more staff, more halfway houses, more money. to implement this program. so many of my friends have asked me, what is the harm? let me first give you what is the harm. first, it would divert limited resources for programming by requiring a complex risk assessment process that would primarily benefit people deemed at a low or minimal risk of recidivism. so that means if you came in with a harsh drug sentence, but through the years mom or dad,
you saw your son or daughter fix their lives, if you saw them fix their lives, you would note that they in fact would not be eligible for this program. second, without provision notice bill -- the speaker pro tempore: the gentlelady's time has expired. ms. jackson lee: do you have 30 seconds? or a minute? mr. nadler: i yield the gentlelady an additional 30 seconds. ms. jackson lee: the second part, is without provisions in the bill to reduce excess -- excessive sentencing for drug offenses, overcrowding will still persist, mom and dad, and thereby reduce resources from programs. the corrections officers indicate they don't have the staff. halfway houses have been closed. in addition, it is documented that if your son or daughter has an offense that was considered excluded and they have repaired their life, they have through the prison they have made changes they will not be eligible, not for the programs, but they will not be
eligible for releefment so it is a first step. but i would simply say, if it is the first step, why not protection of immigrants and also why not have a sentencing reform hearing which the republicans have canceled because of my position on this bill? let us work together for what is good, mr. speaker. the speaker pro tempore: the gentlelady's time has expired. ms. jackson lee: and let us make a difference in the lives of all of the inmates. i yield back. the speaker pro tempore: the gentleman from georgia is recognized -- virginia is is recognized. the gentleman reserves. the gentleman from new york is recognized. mr. nadler: mr. speaker, i'm prepared to close if the other side is. the speaker pro tempore: the gentleman is recognized to close. mr. nadler: mr. speaker, i yield myself the balance of my time. mr. speaker, in spite of the good intentions of this bill, i believe the restrictions in the incentives system it would create with respect to recidivism reduction programming could compound the injustices that occurred earlier in the stages of the criminal justice process. that its approval would lens the odds of achieving sentencing -- lessen the odds
of achieving sentencing reform and the negatives outweigh the positives of this bill. a broad spectrum of dozens of civil rights and other organizations agree, and oppose this bill. including the leadership conference on civil and human rights, the aclu, the naacp, the naacp legal and education defense fund, the american federation of federal government employees council of prison locals, the national immigration law center and human rights watch. i reluctantly oppose h.r. 5682 and ask that my colleagues do the same. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from virginia is recognized. mr. goodlatte: thank you, mr. speaker. i yield myself such time as i may consume. mr. speaker, in closing i urge my colleagues on the other side of the aisle to not oppose this very important piece of legislation before us today. it appears their opposition to the legislation is based upon what is not in the legislation rather than what is actually in it. i don't believe there's a single provision in the bill
that they oppose. in fact, many of the provisions in this bill are there because they specifically asked for them. for example, democrats asked for a fix to the way the bureau of prisons calculates good time credit. we made changes to clarify congressional intent on that section. they also asked for language on the risk saysments to ensure that dynamic factors were used to evaluate a prisoner's risk of recidivating. that request was honored. various pilot programs and a prohibition of shackling pregnant inmates were also placed in the legislation at the request of democrats. good requests, good changes. and these are only a few of the many requests that we're on -- that were honored. voting against this meaningful and important bill is a disservice to those men and women currently incarcerated and their families.
it's a disservice to the great men and women who work in our prison system. and it's a disservice to the american neesm vast majority of those incarcerated will get out one day. let's make sure they have the tools and resources to successfully re-enter society. h.r. 5682 does just that. i urge my colleagues to support the first step act and i yield back the balance of my time. the speaker pro tempore: the gentleman yields. the question is will the house suspend the rules and pass the bill h.r. 5682 as amended? those in favor say aye. those opposed, no. in the opinion of the chair, 2/3 being in the affirmative -- >> mr. speaker. the speaker pro tempore: the gentleman from virginia is recognized. mr. goodlatte: i ask for the yeas and nays. the speaker pro tempore: the yeas and nays are requested. those in fare of taking this vote by the yeas and nays will rise and remain standing until counted. a sufficient number having risen, the yeas and nays are ordered. pursuant to clause 8 of rule 20, further proceedings on this
for what purpose does the gentleman from pennsylvania seek recognition? >> mr. speaker, i move to suspend the rules and pass house concurrent resolution 113. the speaker pro tempore: the clerk will report the title of the concurrent resolution. the clerk: house concurrent resolution 113, concurrent resolution authorizing the use of the capitol grounds for the greater washington soap box derby. the speaker pro tempore: pursuant to the rule, the gentleman from pell, mr. barletta, and the gentlewoman from nevada, ms. titus, each will control 20 minutes. the chair recognizes the gentleman from pennsylvania. mr. barletta: i ask unanimous consent that all members have five legislative days to revise and extend their remarks and include ex-trabes you material on house concurrent resolution 113. the speaker pro tempore: without objection. mr. barletta: i yield myself such time as i may consume.
the speaker pro tempore: the gentleman is recognized. mr. barletta: house concurrent resolution 113 authorizes the use of the capitol grounds for the annual greater washington soapbox derby in june. the mission of the soapbox derby is to build knowledge and character in our children and to teach them fair and honest competition. this american tradition started in 1934. it encourages kids to be creative and teaches them problem solving and engineering skills. i am pleased this tradition continues, including in my home state of pennsylvania. winners from this local competition will join winners of other races in competing at the world championship in akron, ohio. i urge support of this resolution and i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. the chair recognizes the gentlelady from nevada. ms. titus: thank you, mr. speaker. i yield myself such time as i
may consume. the speaker pro tempore: the gentlelady is recognized. ms. titus: thank you. i share the enthusiasm of the chairman for the soapbox derby. i'd like to speak in favor of this resolution. i also want to thank my good friend from maryland, representative hoyer, for introducing this legislation every congress on behalf of the -- on behalf of the washington regional delegation. this annual competitive event encourages boys and girls ages 7 through 20 to construct, operate, and then race their very own soapbox vehicle. it's become a great tradition here in the nation's capital and it's been going on for over 20 years. it provides a terrific opportunity for children to appreciate the workmanship, the craftsmanship, the time, the effort that goes into the construction of these vehicles and then they get to enjoy the thrill of the race and competition. the greater washington soapbox derby organizers will work with the architect of the capitol and capitol police to ensure the
appropriate rules and regulations are in place and that the event remains free to he public. i want too encourage my colleagues to support this legislation and then to come out on june 16 to participate in this exciting event. i reserve. the speaker pro tempore: the gentlelady reserves. the gentleman from pennsylvania is recognized. mr. barletta: i reserve. the speaker pro tempore: the gentleman reserves. the gentlelady from pennsylvania is recognized. ms. titus: thank you, i would like to yield as much time as he wishes to consume to my colleague and leader mr. hoyer. the speaker pro tempore: the gentleman from maryland is recognized. mr. hoyer: thank you, i thank ms. titus, i thank the chairman for bringing the bill to the floor. i rise in strong support. mr. speaker, it's with great honor every year that i have the opportunity to introduce this resolution and to support it on the floor. and i just heard the remarks of
the gentlelady from nevada, i thank her very much. i thank the gentleman from pennsylvania for his remarks. this is the 77th year our re's soap box derby will be a fun and educational event that brings families together. it will be held on saturday, june 16, as i'm sure has been said, and see soapbecomes racers from ages 8 to 17 compete in three divisions, stock, superstock and masters. the winner from each of these divisions, mr. speaker, will go on to compete at the national all-american soapbox derby held ach year in akron, ohio. i was very proud of last year's winners from maryland's fifth district, 11-year-old ian jamison in the stock class and ryan jamison in super stock. these twin brothers from
hollywood, maryland, a county in which i live, the most southern county in our state, they work hard on their soapbox racers, as did all the other young people who participated. ian jamison went on to win fourth place at the all-american soapbox derby in akron. maryland's fifth district has been home to several greater washington soapbox derby champions in recent years, including the wins -- winners from 2007, 2008, 2009, 2012, 2013, and 2014. is there any doubt in any member's mind why i'm so support oif the soapbox derby. we do well in the derby. our racers even won national championships in 2007 and 2008. i feel confident that the fifth district racers will continue to shine this year. soapbox derbies have been called the greatest amateur racing event in the world. they have a long tradition in our country, many americans
carry fond memories of building soapbox race wers their parents or other relatives when they were young. so mr. speaker, i am pleased to rise in strong support of this all american activity that will happen right here on the nation's capitol hill. i yield back the balance of my time. the speaker pro tempore: the gentleman yields. the gentlelady reserves. the gentleman from pennsylvania is recognized. mr. barletta: i reserve. the speaker pro tempore: the gentlelady from nevada is recognized. ms. titus: thank you, mr. speaker. as you know, i represent las vegas. i'm not sure we can take bets on the soapbox derby in las vegas but i would say the odds are in favor somebody from your district winning if it does occur. we have no other speakers and so i would urge my colleagues to vote in favor and yield back. the speaker pro tempore: the gentlelady yields. the gentleman from pennsylvania is recognized. mr. barletta: i yield back the balance of my time.
the speaker pro tempore: the gentleman yields. the question is, will the house suspend the rules and agree to house concurrent resolution 113? those in favor say aye. those opposed, no. in the ponch the chair, 2/3 being in the affirmative, the rules are suspended, the concurrent resolution is agreed to, and without objection the motion to reconsider is laid on the table.
for what purpose does the gentleman from texas seek recognition? >> mr. speaker, pursuant to house resolution 905, i call up s. 2155. the economic growth, regulatory relief, and consumer protection act. i ask for its immediate consideration in the house. the speaker pro tempore: the clerk will report the title of the bill. the clerk: senate 2155, an act to promote economic growth, provide tailored regulatory relief and enhance consumer protections and for other purposes. the speaker pro tempore: pursuant to house resolution 905, the bill is considered read. the bill shall be debatable for one hour, equally divided and controlled by the chair and
ranking minority member of the committee on financial services. the gentleman from texas, mr. hensarling, and the gentlelady from california, ms. waters, each will control 30 minutes. the chair recognizes the gentleman from texas. mr. hensarling: i ask unanimous consent that all members may have five legislative days in which to revise and extend their remarks and submit extraneous materials on the bill under consideration. the speaker pro tempore: without objection. mr. hensarling: i yield myself three minutes. the speaker pro tempore: the gentleman is recognized. mr. hensarling: mr. speaker, for far too long, far too many people in our country have struggled to make ends meet. they've struggled to buy a car. they've struggled to buy a home. they've struggled -- they've struggled for their version of the american dream. i hear from these people frequently, mr. speaker. i hear from colton in terrell, texas who said he and his wife
have been unable to get a mortgage due to credit and they were 25, 30 years old, they had good credit but were getting denied and they needed a home to provide a sense of stability. but they couldn't get it due to washington's bureaucratic regulations. you know, mr. speaker, i heard from dirk, in dallas he said he used to have a $100,000 line of credit from his bank. he had an ense -- unsecured signature line of credit that he used for working capital for his small business he often paid it down to zero when cash flow was ample but the bank canceled, canceled it because of bureaucratic government burden on the banking system. i heard from sherry in use it's a who said after a divorce four years ago, i needed to buy a car because my car was over 10 years old. i had a checking account in my name at my credit union but they didn't loan me money for the car.
mr. speaker, we hear these stories far too often. the main street banks and credit unions that these people depend upon, they've been suffering. they've been suffering for years under the weight, the load, the volume, the complexity and cost of heavy washington bureaucratic red tape. they haven't been able to serve these people, to help get them into home, help get them into cars. as one west texas banker told me, mr. speaker, quote, my major risks are not credit risks, risk of theft, risk of some robber coming in with a gun in my office, my number one risk is regulatory risk. we have been losing a community bank or credit union every other day in america and with it, the hopes and dreams of millions. but today, that changes. the sen the way with economic growth the
economic growth and regulatory relief and consumer protection act. mr. speaker, this is the most pro-growth banking tpwhill a generation. you'd have to go back to 1999 to gramm-leech-biden. though we didn't have a formal conference with the senate i'm proud, proud that over half the bills in this package including three quarters of the regulatory relief provisions, came from the house. these are the provisions to help hardworking, struggling taxpayers get into home mortgage, get into car loans, get into their small businesses. this is what will help drive 3% economic growth, which is the birth right of all americans. today is an important day in the history of economic opportunity and -- in america and i encourage all of us, all of us, to support the economic growth, regulatory relief, and consume brother text act. . the speaker pro tempore: the gentleman reserves the balance of his time. the gentlewoman from california is recognized. ms. waters: mr. speaker, i yield myself such time as i may
consume. the speaker pro tempore: the gentlewoman is recognized. ms. waters: before i get into the remarks that i have prepared, i think i'd better just share this information with my colleagues. the fdic released its quarterly banking profile today. for the first quarter of 2018. and reported that banks made more money than they ever have. $56 billion in profits in a single quarter, represents a 27.5% surge compared to 2017. some of these profits came from that so-called tax bill that we passed, which we know was the republican tax scam law. democrats passed the dodd-frank wall street reform and consumer protection act to prevent another financial crisis and protect consumers, investors and our economy. the 2018 financial crisis
resulted in nine million people losing -- 2008 financial crisis resulted in nine million people losing their jobs, 11 million people losing their homes to foreclosure and the loss of $13 trillion in wealth. it was an economic catastrophe that must never be repeated. but now my colleagues on the other side of the aisle are determined to help this president dismantle reforms that are designed to protect us from the kind of devastation to communities. republicans are trying to pass this bill off as an effort solely designed to benefit small community banks. but the truth is the bill is packed with poisonous provisions that benefit the megabanks, like wells fargo and companies like equifax. it also weakens critical mortgage protections to ensure borrowers can afford their loans and prevent discrimination and fraud. one of the most harmful elements of this bill is its weakening of the home mortgage disclosure act, referred to as
hmda. which is a key tool to detect and prevent discriminatory practices in the mortgage market. of 55 would allow 85% depository institutions to avoid ever having to report new hmda data required by dodd-frank, even though they're already collecting the data. badly undermining efforts to ensure fair lending. but that's not all. this bill guts many of the protections democrats put in place to reduce the risk of bank failures and bailouts and he sure that bank failures don't bring down the economy. it weakens stress tests and capital requirements for big banks and undermines supervision of large foreign banks like that deutsche bank. there's more. despite equifax's carelessness in exposing the personal data 148 million americans, s.
2155 rewards them and the other two national credit bureaus by funneling more business their way. it also takes away active duty service members' rights to sue the credit bureau, even if the bureau fails to provide required free credit monitoring or notify them of scams involving their personal information. mr. speaker, these are just some of the many ways the bill would be harmful. republicans have stacked the bill with provisions that have nothing to do with benefiting working -- hardworking americans, and everything to do with helping out wall street. donald trump and the republicans already gave a huge gift to big corporations with the tax scam, which came at the expense of hardworking americans. now they're pushing this rotten giveaway to wall street and big banks that harm consumers and increases the risk of another financial crisis. so i would urge members to oppose this bill and i reserve
the balance of my time. the speaker pro tempore: the gentlewoman reserves the balance of her time. the gentleman from texas is recognized. mr. hensarling: mr. speaker, i am now very pleased to yield two minutes to the gentleman from missouri, mr. luetkemeyer, chairman of the subcommittee on financial institutions, and consumer credit, and the leading voice in congress on trying to bring rashality to the sifi designation and accountability to the financial stability oversight council. the speaker pro tempore: the gentleman from missouri is recognized. mr. luetkemeyer: thank you, mr. speaker. first, i want to start by thanking chairman hensarling for his commitment to regulatory relief. we wouldn't be here, mr. chairman, today if it wasn't for your diligence and for the hard work of all the great folks on the financial services committee, on both sides of the aisle. in the wake of the financial crisis, the american people needed regulatory relief that would lift the economy. instead congress responded with a framework that increased the cost of financial products, restricted access to loans, and redistributed credit to the -- from the middle income borrowers to the high income
borrowers. today too many consumers are left struggling to get the tools they need to achieve financial independence. senate bill 2155 is a bill sentence in -- step in the right direction. the majority of the provisions included in the bill come from bipartisan house-passed measures. several of which were included in my clear act. despite whatever rhetoric we may hear today, american borrowers are going to benefit from the relief that extends from this bill. however, the conversation cannot end with senate bill 2155. while the provisions in this legislation are granting important relief, there's so much more to be done. the financial services committee has marked up more than 100 bills this congress. many of which have the support of the ranking member. and deserve to be considered by our colleagues in the senate. we have to continue to right-size regulation so it's not based just on size or an arbitrary -- single arbitrary factor, but on thoughtful analysis of an institution's business model and risk profile. mr. speaker, arbitrary figures
don't necessarily guarantee a safer financial system. mr. speaker, i want to thank you again for -- thank again my chairman for his diligent work on this fine bill and ask my colleagues to support senate bill 2155 and i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from texas voices -- the gentleman from texas is recognized. no. ms. waters: thank you very much, mr. speaker and members. let me repeat the fdic released its quarterly banking profile today, for the first quarter of 2018. and reported that banks made more must be than they ever have. i have to say this over and over again. $56 billion in profits in a single quarter. represents 27.5% surge compared to 2017. some of these profits came from the tax scam bill that was passed. these banks are just greedy. they will never get enough. they want to do away with dodd-frank because dodd-frank is protecting consumers from
their fraud. look how much money they're making. all they will tell you, this is all about community banks. but let me just tell you that community banks, credit unions and the economy are doing great with dodd-frank reforms in place. banking industry keeps making record profits an average $167 billion in annual profits in the last three years. banks have increased lending to businesses by 80% since 2010. community banks are outperforming larger banks in increased lending. credit unions are growing and have increased lending by more an 10% in 2014, 2015, 2016 and 2017. mr. speaker and members, what more do they want? how much more money do they want from consumers? what is they would have us do, what is it they would have us get rid of in dodd-frank that's
protecting the average consumer , everyday working people? what would they have us do so that they can make more money? i reserve the balance of my time. the speaker pro tempore: the gentlewoman reserves the balance of her time. the gentleman from texas is recognized. mr. hensarling: mr. speaker, i'm very pleased to yield two minutes to the gentleman from michigan, mr. huizenga, who is the chairman of our subcommittee on capital markets, securities and investments, and the lead voice in our house for capital formation, for our startups and small businesses. the speaker pro tempore: the gentleman from michigan is recognized. mr. huizenga: thank you, mr. speaker. mr. chairman, i appreciate that. like in michigan, like so many other places around the country, in 2008 we saw a massive economic down turn, where people lost their jobs, lost their savings, and some even lost their homes. the obama administration and their allies in congress put forward a very flawed solution, which was called dodd-frank. which led to the slowest, weakest recovery in modern
history. the american people were sold a bill of goods. so, now what congress is trying to do is get at the root cause. that was not what they had done before. they had denied hardworking families the economic recovery that they deserved. economic growth stalled as access to basic financial services became less and less available to small businesses and lower income americans. and america's small and medium sized community financial institutions were saddled with a crushing regulatory burden. we are changing that in this bipartisan bill. instead of ending too big to fail, this regulatory monday trossity called dodd-frank enshrined too small to succeed. on average we're losing a community financial institution a day, one per day, because of the extensive burdens placed on them by this one-size-fits-all regulatory structure. these crushing regulations have made it more difficult for consumers to access credit they need to buy a car, realize homeownership, save for retirement, plan for their kids to go to college, climb the
ladder of opportunity and grow their small businesses, which are critical to growing our economy. today's bill, the economic growth regulatory relief ab and consumer protection act -- relief and consumer protection act, begins to provide relief. this bipartisan bill, combined with the momentum created by the tax reform bill that we had done previously. this bipartisan bill will continue to unleash american innovation, jobs and capital while supporting economic growth. now, you may have heard this is a republican plan only. wrong. 67 votes in the senate, including my two democrat senators from michigan, voted for this bill. and i urge all of my colleagues to vote in favor of this historic pro-growth bill, which we've seen -- which we haven't seen in almost a generation. not since a generation. i look forward to supporting this bill. i appreciate all the work that's been put onto it in a bipartisan manner. and with that i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from texas reserves.
ms. waters: some of the senators are saying they wish they had never voted for the bill. i yield 1 1/2 minutes to the gentleman from massachusetts, a senior member of the financial services committee, mr. capuano. the speaker pro tempore: the gentleman from massachusetts is recognized. mr. capuano: thank you, mr. speaker. i thank the gentlelady for yielding. there's some good things in this bill. i wanted to work with all of you to enshrine the good things and get rid of the bad things. we all did. we all have offered it for years. because dodd-frank is a good law, but it needs amending. we all agree. the limits are on it. we all have admitted that we just kind of picked them at the time, we were in a hurry and a rush. but amnesia around this place is endemic. maybe it's hard for you today to look people in the eye and say, gee, maybe you can't afford that loan, but for me, the hardest thing was looking people in the eye and saying, i'm sorry you're losing your
home. i'm sorry you're losing your job. i'm sorry your kids can't go to college -- college because the economy just collapsed. the numbers are the numbers. but didn't you get those phone calls? didn't you hear it from any of your constituents? and what was your answer? oh, the regulatory system's terrible. you didn't answer that. you tried to help. and you couldn't because the economy had gone down the toilet. if this bill passes, which it will, i know you wouldn't come to the floor unless you had the votes, i know that. i can count. when people ask you the next time, the next time we have an economic collapse, when they ask you what happened, here's the only answer you're going to be able to give them. i voted for this bill today.
the speaker pro tempore: the gentleman's time has expired. members are reminded to direct their remarks to the chair. ms. waters: the gentleman from massachusetts. the speaker pro tempore: how long, ma'am? ms. waters: 30 seconds. the speaker pro tempore: the gentleman is recognized for 30 seconds. mr. capuano: the details of this bill, getting rid of hmda requirements, do you not care about discrimination? do you not recognize that it's real and that it exists? apparently you don't care. do you not care your constituents had their information sold out from under them and not protected? now you're going to give free credit monitoring only for people in the military. not for your mother. not for your sister. not for your student children. just for the military. the bill has some good provisions in t i'm happy to work with you on some of these.
this bill goes too far and you are responsible. the speaker pro tempore: members are again reminded to direct their remarks to the chair. the gentleman from texas is recognized. mr. hensarling: mr. speaker, i yield a minute and a half to the gentleman from wisconsin, mr. did you have if i, chairman of the subcommittee on housing and insurance and the author of the family self-sufficiency provision in s. 2155. the speaker pro tempore: the gentleman is recognized. mr. duffy: thank you, mr. speaker. mr. chairman, i want to thank ou for all of your work on dodd-frank reform. i think it's important we look back. when dodd-frank passed, it was passed with a blindfold over our eyes because the studies weren't even done about what the root cause of the crisis even was. democrats opened up their files and poured every bill they had dreamed of for 20 years into dodd-frank. and what did it do to my constituents? my small banks and credit unions, it made them shut their doors or made them consolidate
the a bigger bank so now citizens might not be made there but in milwaukee, chicago, or minneapolis. i hear my friends talk about banks doing so well right now. yeah. because there's people who want to borrow money and the economy is so well borrowers can pay back lenders. so they make a little bit of money. i think what's pretty evident in this conversation is some of my friends would prefer that we have socialized banking like socialized health care. let the government, let the democrats across the aisle run banking in america. if you're confused about this debate, whether this is good or bad bill, just do one thing. look at where the small community banks are, look where the credit unions are, and they are clamoring for this bill. they are begging for this bill because they can't comply with dodd-frank. the rules and regulations is utting them out of business.
small credit unions say yes to this bill. my time is up, yield back. the speaker pro tempore: the gentleman yields. the gentleman from texas reserves. the gentlewoman from california is recognized. ms. waters: i yield 1 1/2 minutes to the gentlelady from new york, the ranking member of the small business committee, and a senior member of the financial services committee, ms. velazquez. the speaker pro tempore: the gentlelady from new york is recognized. ms. velazquez: i thank the gentlelady for yielding. mr. speaker, i rise in strong 2155, which s. strips back and weakens many of the regulatory tools and safeguards we enacted in dodd-frank. make no mistake, mr. speaker. this bill will make our financial system more vulnerable to a financial crisis. the bill undermines important safety and soundness perfection by stress tests and capital
requirements. key reforms that democrats put in place following the financial crisis that prevent the risk of bank bailouts and protect our economy and taxpayers. the bill also weakens critical consumer protections like dodd-frank's data, monitoring and reporting requirements. 85% of is bill, depository institutions are excused from this important requirement. while many financial institutions say that this reporting requirements are too onerous and too difficult to comply with, s. 2155 will make it harder to determine if lenders are serving the credit needs of minority borrowers and and entify harmful discriminatory lending patterns. instead of eliminating -- tant tools like hum da
hmda, we should be finding ways to eliminate this discrimination in lending. as ranking member of the house small business committee, i yield -- ms. waters: i 20 seconds to the gentlelady from new york. the speaker pro tempore: 20 seconds. ms. velazquez: i support targeted reforms that provide relief for community banks and local credit unions. but this bill does none of that. it is a solution in search of a problem that harms consumers. i urge my colleagues to vote no on this dangerous bill. i yield back. the speaker pro tempore: the gentlewoman reserves. the gentleman from texas is recognized. mr. hensarling: i'm very pleased to yield a minute and a half to the gentleman from north carolina, mr. mchenry, the vice chairman of the committee and the chief deputy whip of the majority and author of two provisions of s. 2155 to promote capital formation and
credit bureaus fully accountable. the speaker pro tempore: the gentleman is recognized. mr. mchenry: thank you, mr. speaker. i want to thank the chairman for making credit bureaus fully without the architecture of the work the house financial services committee did, the senate wouldn't be able to come to terms with this major change of dodd-frank. i want to thank my democrat colleagues for participating in these bipartisan negotiations that brought this day possible. the long, dark shadow of the financial crisis is over. policymakers are now shifting to the much needed reforms we need in our banking system. we know that we have fewer community banks now than we did before the financial crisis. fewer community banks now than five years ago. our communities are more starved for capital now than before. economy y with the changing and economic growth now coming back it communities across this country. now, today congress is coming to terms with a bipartisan bill, a bipartisan approach to make our banking system more
inclusive and more accessible for everyday americans. i'm proud my provision that i authored, the supporting american innovators act, is included which helps small businesses get the investment they need to economy changing and economic growth grow and prosper and those communities have not been traditionally focused upon by investors. but i'm also proud this bill allows community banks to get in the business of lending to their community. getting back into the business of mortgage lending in their communities. and i'm proud that this bill will allow consumers to freeze their credit reports in the event that there is a data breach or identity theft. these are bipartisan pieces of this very important package. it is high time congress gets with it and passes this bill. i look forward to the outcome of today's vote. i urge my colleagues to vote yes. the speaker pro tempore: the gentleman yields. the gentleman from texas reserves. the gentlewoman from california bill. i look forward to the outcome of today's vote.
i urge my is recognized. ms. waters: i yield 1 1/2 minutes to the gentleman from texas, ranking member of the subcommittee on oversight and investigations, mr. green. the speaker pro tempore: the gentleman is recognized. mr. green: thank you ranking member of the full committee. i am amazed that what i'm hearing today because i was at and i understand that the time we entered the financial crisis, the banks were not lending to each other. there are many aspects of this to focus on, but today will i simply focus on the $163 billion that the banks made last year. a better name for this bill would be too much is not enough. too much is not enough. $163 billion, but it's not enough. the banks would have us now liminate the vokele -- volingele rule, which eliminates the money on the consumer side, taking that
money and moving it over to the investment side and go to wall street and gamble. if they win, they deep the profits. if they lose, they can socialize the losses. this bill is not a bill that benefits consumers. it is a big bank bonanza. too much is not enough. and too much is too much for me. i will vote against it. i yield back the balance of my time. the speaker pro tempore: the gentleman yields. the gentlewoman from california reserves. the gentleman from texas is recognized. mr. hensarling: mr. speaker, i'm very pleased to yield a minute to the gentleman from oklahoma, mr. lucas, the former chairman of the house agriculture committee and senior member of the financial services committee. the speaker pro tempore: the gentleman from oklahoma is recognized. mr. lucas: mr. speaker, it's been 10 long years since i was a conferee on dodd-frank. since then i have seen credit markets in my district and across the country dry up thanks to the increased regulations. that's why i'm happy to speak on a bill that will roll back some of those burdens. dodd-frank was not written on
the back of the stone tablets. addressed in l be this bill s. 2155. but the first step of making that perception is reality. it is the first step in bringing financial markets back to true efficiency and capacity. yes, i mean the first step. there are many more addressed i this bill s. 2155. but the first step of making that things this congress could and should do to bring more relief to small community institutions across the country. every year small financial institutions of oklahoma have ask me trek here to for relief, any relief, for the first time i can give them positive news which is thanks to this bill, sure, there is more to be done, of ask me for course, but if things in this bill like changes to stress testing, risk management protocols, required tata disclosure, among other things, will help those who banks and credit unions for their financial needs. thank you for this opportunity to vote on this bill today.
i yield back. banks and credit the speaker pro tempore: the gentleman yields. the gentleman from texas reserves. and the gentlewoman from california is recognized. ms. waters: i now proudly yield two minutes to the istinguished democratic whip to now yield -- one minute our democratic leader nancy pelosi.
the speaker pro tempore: the gentlewoman from california is recognized. ms. pelosi: thank you very much, mr. speaker. i thank the gentlelady for yielding. i commend her for extraordinary leadership and protecting american consumer, american taxpayer, our american financial systems that she has been just a remarkable, wonderful leader. and i thank our distinguished so that i elding could stay on schedule. thank you, mr. hoyer, grour -- for your great leadership as well. mr. speaker, i rise in opposition to this bill and do i so on behalf of hardworking american people. it's a bad bill under the guise
of helping community banks. it rolls back key can safeguards for american consumers. it opens the door to lending discrimination, and it potentially threatens the stability of our financial system and our economy. the bill would take us back to the days when unchecked recklessness on wall street ignited in historic financial meltdown. wall street gambled with the livelihood of consumers and then it was the middle class that lost its shirt. i just want to share with my colleagues on both sides of the aisle why i have serious concerns about what is happening on the floor today. it's yet again another, another weakening of dodd-frank. here's what i want to call to your mind. because you may not remember this or you may not have been fully aware of it, but you should know it. on the night of september 18,
2008, i called the secretary of the treasury and said, what is happening that we have had in the past couple of weeks lehman, merrill lynch, and that ry -- in that 24-hour period a.i.g., can you come to the capitol to explain tomorrow morning what is -- what's happening so that we can help restore confidence to the markets and not say anything that would do anything less than that. he said, madam speaker, i was speaker at the time, tomorrow morning will be too late. tomorrow morning will be too late. why am i calling you? in any event the secretary of the treasury came to the capitol for an emergency meeting, bipartisan, house and senate, to inform us that a meltdown was imminent. but he described to us that .ight was so stunning
us down to the gates of hell to a place so deep that even dante would not have had a name for that circle in hell because it was so stunning us d hell to a place so deep in terms of what was happening, the meltdown that was happening to our financial institutions. when i asked the fed chairman, also at the meeting, ben bernanke, what he thought, he said, if we do not act immediately, we will not have an economy by monday. an economy by monday. we thought it might be one or the other. by ll not have an economy monday. to stop the meltdown the bush administration requested and congress passed the bill you may be familiar w to prevent this from ever happening again, we passed the dodd-frank, mostence tensive banking and financial reform markets -- reforms in decades and strongest set of consumer
financial protections in history. since the republicans have taken the majority in the congress, and now in the white house, they have a series of weakening of dodd-frank. so you cannot just view this bill as this bill today. bad enough as it is, worthy of a no, unworthy of support. ut to see it in light of a series of weakening of dodd-frank. . the despite overwhelming evidence that people of color are routinely discriminated against by financial institutions. all year the g.o.p. has opened the door to discrimination in our financial system. this is just another discriminatory piece of legislation. they pushed a c.r.a. to roll back protections against discrimination in auto lending.
they voted to repeal an executive order requiring federal contractors to comply with basic nondiscrimination laws. the banks are also using the guise of protecting community banks to help out the largest banks on wall street. the bill exempts 26 of the largest banks from dodd-frank's act's heightened oversight. since 2007, these samebacks have been sued or cited -- same banks have been sued or cited by the regulators and paid settlements of $40 billion. some of which they can deduct from their taxes. republicans are also using relief for community banks, as their guise, as a way of undermining the volcker rule, threatening the stability of the financial system and the entire economy. republicans' willingness to abandon vulnerable americans and jeopardize our entire financial system to further enrich wealthy wall street banks is astounding. today the fdic reported that
banks helped by a massive tax cut earned record profit notice first quarter of this year -- profits in the quarter of this year. they've done that over the past three years as well. time and time republicans put the wall street and rich first and families last. the american people deserve a congress that looks after them. not one that sells out and leaves them high and dry. this is a raw deal for the american people. americans deserve a better deal, better jobs, better wages and better future. democrats are fighting to put that economic power back. who has the leverage? put the leverage back in the hands of america's great middle class, america's working families. so just remember what they were willing to do leading up to 2008. they have forgotten, or maybe they don't care, but they want to take us right back down
their path, that path, it one piece of legislation at a time -- that path, one piece of legislation at a time. and if i know mr. hensarling, there's probably more to come. because i understand he doesn't think this bill goes far enough in the wrong direction and he probably wants more. whatever that is, today is the judgment we have to make about this bill, about our commitment. and by the way, some of the things they want to roll back are very harmful to our veterans as well. and they want to be sure to make that point with you. in addition to all of the other concerns. it's a threat to our financial system, $250 billion. i think that number is too large. the exploitation of the custody banks, that some of the banks already told me they were going to try to pass themselves off as. the discrimination in lending that is in the bill. the lack of -- revealing the
information, which is so essential to knowing what the facts are. for these and so many other reasons, i urge a no vote and i yield
back the balance of my time. the speaker pro tempore: the gentlewoman yields. the gentlewoman from california reserves. the gentleman from texas is recognized. mr. hensarling: thank you, mr. speaker. i now yield a minute and a half to the gentlelady from missouri, mrs. wagner, who is the chair of our subcommittee on oversight and investigations. ben wagner -- the speaker pro tempore: the gentlewoman is recognized. mrs. wagner: thank you, mr. chairman. mr. speaker, since returning to a republican majority eight years ago, the financial services committee has set out to introduce and pass pro-growth legislation that lessens the burdens on -- unfairly put on community banks and credit unions and the customers they serve. today's bill will allow for these institutions to do what they do best. focus on their communities.
mr. speaker, this is something to celebrate. under the leadership of chairman hensarling, our committee has continuously made the case that the former administration's efforts were not only misguided, but made basic financial services less accessible to small businesses and low and middle income americans. with passage of today's bill, that changes. american families and businesses' access to credit will improve. this is credit they can and will use to buy a new car, achieve the dream of home ownership, expand their businesses, and most importantly, create jobs. it is my sincere hope that we continue the momentum of today's vote and work with our senate counterparts to roll back washington red tape, to further our nation's economic growth, and to continue to give hardworking americans better access to affordable financial products. i urge all members to support
this much-needed bipartisan legislation and i yield back the balance of my time. the speaker pro tempore: the gentlewoman yields back the balance of her time. the gentleman from texas reserves. the gentlewoman from california is recognized. ms. waters: i now yield two minutes to the distinguished democratic whip, mr. hoyer. the speaker pro tempore: the gentleman is recognized. without objection. mr. hoyer: i thank you, mr. speaker. i am constrained to say that the gentlelady mentioned the pro-growth administration. we had some 90 months of growth following the worst recession she and i have experienced in our lifetimes. under the policies of the bush administration. mr. speaker, in the wake of the worst financial collapse since the great depression, the congress enacted, over the opposition of our friends in the republican party, mostly,
the dodd-frank reforms to safeguard our economy and safeguard consumers. when we passed dodd-frank in 2010, no one believed it was perfect. no legislation is ever perfect. he is there is nothing wrong with -- there is nothing wrong with evaluating the dodd-frank eight years after it was enacted to determine what is working well and where we might improve. many democrats, myself included, support providing regulatory relief to community banks. and we ought to do that in a bipartisan fashion. not just a few bipartisan participants, but in a bipartisan fashion. i have talked to the ranking member. she has indicated that that's something that she supports as well. however, the bill on the floor today goes much first and would weaken the rules that dodd-frank put in place. it would undermine the regulatory framework for all
banks. this would roll back parts of the home mortgage disclosure act, stress test for large banks, and bank capital requirements. it would also, as has been noted, raise the threshold for the automatic designation of systemically important financial institutions from $50 billion to $250 billion. the changes that are proposed risk making our nation's financial system vulnerable to another crisis that would require yet another taxpayer bailout. the speaker pro tempore: the gentleman's time has expired. mr. hoyer: can i have 30 additional seconds? ms. waters: i yield the gentleman 30 additional seconds. mr. hoyer: i thank the gentlelady, the ranking member. mr. speaker, because of that, and because i would like to see a truly bipartisan bill, supported overwhelmingly on both sides of the aisle, to make sure that our community banks are not impacted in a way that was never intended, nor
should it be intended by the congress. i therefore urge opposition to this particular piece of legislation and i thank the ranking member for her hard work in making its consequences clear. and i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlewoman from california reserves. the gentleman from texas is recognized. mr. hensarling: mr. speaker, i am now proud to yield two minutes to the gentleman from kentucky, mr. barr, the chairman of our subcommittee on monetary policy, trade and the author of two provisions on access to manufactured housing and portfolio lending in s. 2155. the speaker pro tempore: the gentleman from kentucky is recognized. mr. barr: mr. speaker, i rise today in support of this bipartisan legislation incorporating 29 bills originated and passed in this house to ease the regulatory burden on community financial institutions and their customers. this is the most pro-growth financial legislation in a
generation and i urge my colleagues to support it. the 2010 financial control law commonly known as dodd-frank was supposed to protect consumers. instead this 2,300 page monstrosity unleashed an avelampling of huge new compliance costs -- avalanche of huge new compliance costs on community financial institutions that had absolutely nothing to do with the financial crisis. this hurt consumers by forcing small banks and credit unions to cut back on the products and services they serve their customers with. critics who say this is about wall street are wrong. this is not about wall street. this is about community banks. community banks in eastern kentucky who told me that they used to make a business judgment about the credit worthiness of a farmer, and now the government, a bureaucrat, decides whether or not that farmer gets a loan. one prominent example of this ability to -- that made it needlessly difficult for lenders. the portfolio lending and
mortgage access act which i have worked on since i entered congress is included in today's package of reforms and would expand access to mortgage credit by extending the qualified mortgage safe harbor to small creditors who hold their residential mortgage loans in portfolio rather than selling or securitizing them, allowing those lenders to satisfy the rule. this marks a return to relationship banking, where lenders can tailor products to meet the specific needs of customers without running afoul of government one-size-fits-all requirements. the result is expanded access to mortgage credit without additional risk to the financial system or the taxpayer. i want to thank chairman hensarling and chairman crapo for including this bill in the final legislation. and i want to thank the kentucky bankers association, the kentucky credit union league, and their customers for advocating and endorsing this solution. and i encourage my colleagues to vote yes, to finally unclog the plumbing of our economy and give americans full access to the financial stfment i yield back.
the speaker pro tempore: -- our financial system. i -- the speaker pro tempore: -- mr. barr: i yield back. ms. waters: i yield to mr. ellison. mr. ellison: i want to thank the gentlelady for yielding. the speaker pro tempore: the gentleman is -- mr. ellison: in just an hour or so, congress will vote to roll back some of the rules for the biggest banks in the country. think about that for a minute. it was just 10 years ago, after the big banks crashed the economy. senate republicans and some democrats wanted to roll back the rules that were put in place to prevent the next crash. some of my colleagues may have forget been the bad, bad days -- forgotten about the bad, bad days of the crash in 2008. but i sure have not. millions of people lost their homes. in fact, one in 54 homes was in foreclosure. $2.6 trillion, with tambings,
vanished from people's retirement accounts. think about that. for a moment. why on earth would we go back there? and let me remind everyone here , before this crash, we heard all this talk about pro-growth. before the big crash, they said, we want to allow commercial banks and investment banks and insurance companies just to all conglomerate together. we want to allow banks to use the money of their depositers to make gamblinging decisions on wall street -- gambling decisions on wall street. 're going to sell people low doc loans and let the seller get a yield spread premium for steering people to high cost loans. and we're going to let them securitize all of it and if they lose their money, it's ok, because we're going to let them buy credit default swaps, which is insurance, so that, you know, the american people lose, but the big banks and the insurance companies never do. all this pro-growth talk -- the speaker pro tempore: the gentleman's time has expired. mr. ellison: all this pro-growth talk, we've seen it before. ms. waters: i yield to the
gentleman an additional 30 seconds. the speaker pro tempore: the gentleman is recognized for 30 seconds. mr. ellison: all this pro-growth talk is a movie that we have seen before. remember alan greenspan telling all of us, let them do what they want to do. it doesn't matter. you can't interfere with the market. the market has all the answers. we found out who had the answers when it came out to bailing wall street. it was the american people. we are urging our colleagues to not vote for this. because it will be the american people who pay. not to mention people who live in manufacturing homes, who are going to be allowed to be charged more for their home choices, and it will open the door to racial discrimination, which has been proved time and time again. this bill is bad. vote no. the speaker pro tempore: the gentleman's time has expired. the gentlewoman from california reserves. the gentleman from texas is recognized. mr. hensarling: thank you, mr. speaker. i now yield a minute and a half to the gentleman from arkansas, mr. hill, the committee's majority whip, and the author
of the amendment dealing with the volcker rule. the speaker pro tempore: the gentleman from arkansas is recognized. mr. hill: i thank the speaker. the i thank the chairman of the full committee for -- the speaker. i thank the chairman of the full committee for having us on the floor today to talk about s. 2155 i've heard that all cold water from the opposition today. but this is the definition of bipartisanship. 67 votes in the senate, in this environment in this town, is bipartisan. and so many of our bills emanated here in the house with strong bipartisan support. as a former commerce chairman banker, i ommunity have seen firsthand, mr. speaker, the negative effects of the dodd-frank act since its passage in 2010. i know we have had banker, i have seen firsthand, mr. speaker, 140 hearings how to make sense of improving dodd-frank. to right size the regular another system for small financial institutions. allowing our community banks and credit unions to actually
serve our small businesses and consumers. rather, spending time on too much compliance, these institution can redirect resources toward what they do best. approving loans, mortgages, and providing credit to small business. this bill has rather, spending time on too much compliance, these institution can redirect resources toward support. never know listening to the opposition, but widespread support in a bicameral, bipartisan basis in this building. never know listening the one particular provision, led by my friend, mr. barr from kentucky, i know will help hundreds of arkansans, hardworking families who need access to credit for manufactured housing in rural parts of our state, this bill will help people get housing thanks to the work of the senate and the house. the speaker pro tempore: the gentleman's time has expired. mr. hill: i encourage my colleagues to vote in favor of 2155. the speaker pro tempore: gentleman from texas riffs. the -- reserves. the gentlewoman from california is recognized. ms. waters: i yield 1 1/2
minutes to the gentlelady from new york, the ranking member of the subcommittee on capital markets on the financial services committee, mrs. maloney. the speaker pro tempore: the gentlewoman from new york is recognized. mrs. maloney: mr. speaker, i rise today in strong opposition to s. 2155. it's important to remember why we passed dodd-frank in the first place. we were suffering from the worst financial down turn in our country. 15 million people lost -- this country suffered $15 trillion in household wealth that was lost. we lost eight million people lost their jobs, and six million people lost their homes due to the practices of unfair and deceptive banking practices. dodd-frank put in place
protections for consumers. prior to the crisis, predatory lenders saddled unsuspecting borrowers with toxic mortgages that they didn't understand and can could not afford. too often these predatory lenders targeted communities of color. and when these toxic mortgages blew up, it devastated these communities. in response, we passed dodd-frank, which imposed tough new rules on mortgage lenders and beefed up our efforts to crack down on lending discrimination. but this bill would roll back some of these important protections. the bill would undermine fair lending laws by exempting the majority of lenders on lending scramings. the speaker pro tempore: the gentleman's time has expired. mrs. maloney: weaken protection orce mobile home buyers. ms. waters: 30 seconds.
mrs. maloney: to accept kickbacks in exchange for steering borrowers into predatory loans that they can't afford. a terrible practice that dodd-frank outlawed. and the list goes on and on and on. while the bill does contain some provision that is every house democrat has supported, taken together the bill goes too far in weakening the key mortgage rules that dodd-frank put in place. so i urge my colleagues to come together in a strong no-vote. i yield back. the speaker pro tempore: the gentlelady yields back. the gentleman from texas is recognized. mr. hensarling: i'm very pleased to yield a minute and a half to the gentleman from the ois, mr. hultgren, author of two different provisions in s. 2155, to give more flexibility to private companies and small banks with respect to their call reports. author of two different provisions in s. the speaker pro tempore: the gentleman from illinois is recognized for one minute and one half. mr. hultgren: first i want to
thank our chairman, chairman hensarling, without his incredible commitment and effort we would not be here today. i'm convinced of that. thank you. i rise today to speak in support of the very bipartisan s. 2155, the economic growth regulatory relief and consumer protection act. i was not here when the dodd-frank act was signed into law, but i have been interested in addressing some of these damaging effects since first running for office, and it was a big reason why i ran for congress. this legislation is a historic opportunity to tailor financial regulations in order to maximize economic growth in illinois and across the country. we need to make sure that our community banks and credit unions are able to meet the needs of families and neighborhood businesses. i'm especially happy to see a number of provision that is i had the privilege of authoring with my colleagues in the house to make their way into this package of bills. there were also -- they were also very bipartisan bills. -- party bills. it simplifies the call report so smaller institution can better focus on their customers.
the encouraging employee ownership act makes it easier for private companies to provide ownership to their employees under s.e.c. rule 701 so they can share in the benefits of growth. i'm also very excited about -- in this legislation that was introduced by other colleagues hi also a part in co-sponsoring that's part of this. the mobile act, the mobile act, protecting children from identity theft act, the protecting veterans credit act, the pension endowment and mutual fund access to banking act, the municipal finance support act. and the s.e.c. overpayment credit act. i'm incredibly supportive of the commonsense reform that are made so that our regional banks are not automatically treated like major wall street banks. please support this bill. the speaker pro tempore: the gentleman's time has expired. the gentlelady from california is recognized. ms. waters: may i inquire how much time i have left? the speaker pro tempore: the gentlelady from california has 12 minutes remaining. ms. waters: thank you very much. i yield 1 1/2 minutes to the gentleman from washington, a valued member of the financial
services committee, mr. heck. the speaker pro tempore: the gentleman from washington is recognized for 1 1/2 minutes. mr. heck: thank you, mr. speaker. regrettably vote no on 2155. it's regrettable because i believe our local banks and credit unions are struggling under the weight of regulations. i believe we have bank rules that need fixing. i wanted to support a bill that would do so, but can i not vote yes for two reasons. first, this bill can cannot release the pressure small banks are under because it does not address the single biggest cause. every bank and credit union i met with say it's one regulatory burden is paramount, that's bank secrecy act, c.t.r.'s and money laundering. what's in this bill? not one section, sentence, or word. secondly, this bill makes changes could set us back. it's been cited the increase of sifi designation from 50 to $250 billion is a large step down a dangerous road. the insurance provision on the
other hand also goes against my goal of returning power to state regulators who provide the greatest in consumer protection. you know, if my colleagues had been allowed any input, any, i think we could have accomplished the goal. but this bill doesn't solve the problem it aims more and may create new ones. --aims for and may create new ones. accordingly i can't support it. i ask you as well to oppose it. the speaker pro tempore: the gentleman yields back. the gentleman from texas is recognized. mr. hensarling: mr. speaker, i'm now very pleased to yield a minute and a half to the gentleman from pennsylvania, mr. rothfus, the author of two different provisions in s. 2155 to bring clarity to the complex capital rules and flexibility to our savings associations. the speaker pro tempore: the gentleman from pennsylvania is recognized for one 11 minutes. -- for 1 and a half minutes. mr. rothfus: our economy has struggled for years under the weight of misguided washington
policies. banks have closed and consolidated communities across this country have lost their local financial institutions. american families have found it harder to get the funds they need to buy a home and small businesses have been starved to innovate, invest, and hire workers. small business vs. struggled to grow or even get off the ground. a recent study observed we're missing 650,000 small businesses because of burdensome regulations related to the financial industry over the last 10 years. everyone from the single mom looking to buy her first home to the entrepreneur working to achieve his or her version of the american dream, deserves a chance to thrive in a growing economy. today's bill addresses some of these areas. i'm also proud to say two of my bills are in this legislation. one gives mutual banks the flexibility to evolve so they can serve their communities. the other addresses the unintended negative impacts on custody banks. this is technical but the current s.l.r. makes it harder
for banks to safeguard cash of pension funds and nonprofit of stress. in times today we fix that. both of my bills received unanimous bipartisan support in the committee and i'm glad they will soon become law. i commend chairman hensarling for his work on this legislation. i urge my colleagues to support this bill and i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlelady from california is recognized. ms. waters: thank you. i yield 1 1/2 minutes to a very hardworking progressive leader, ms. jayapal. the speaker pro tempore: the gentlelady from washington is recognized for 1 1/2 minutes. miss jay -- ms. jayapal: this bill will road back many consumer protections, including protections that are critical for civil rights. this bill will permit 85% of depository institutions to avoid public reporting on their mortgage lending activities. and this reporting is absolutely criticalle to identifying discrimination
against black americans, latinos, and other minority groups. thanks to the public reporting requirements requirement, we know that redlining still exists in 61 metropolitan areas across our country, and that black folks and latinos are more than twice as likely as to be denied mortgage credit. it is an unacceptable reality, but it's a reality that we have to see and acknowledge. the idea that we would roll back these policies that to be us identify these problems when we have the facts right in front of us is simply unthinkable. i do want to make it clear i have great sympathy for smaller banking i.n.s. tuesdays, including credit unions, i'm a proud credit union member, and community banks that have called for regulatory relief, but let's be clear when we do that relief congress should be using a scalpel to create a fix for smaller banks not a sledgehammer to the entire system that we set up to protect consumers and main street small business from the greed of big banks. i urge my colleagues to vote no. i yield back.
the speaker pro tempore: the gentlelady yields back. the gentleman from texas is recognized. mr. hensarling: mr. speaker, i now yield a minute and a half to the gentleman from colorado, mr. tipton, the author of the mobile act making online banking initiation legal and easy. the speaker pro tempore: the gentleman from colorado is recognized for 1 1/2 minutes. mr. tipton: thank you, mr. chairman. mr. speaker, for too long there's been a culture of disregard four our community financial institutions out of washington, d.c. regulations that were intended to bring discipline to the nation's largest institutions have instead suffocated main street and prevented communities across the country rom finding their footing on the path to prosperity. the passage of this historic bipartisan pro-growth package today will mark a change in the regulatory rhetoric out of washington. communities will be the path to heard instead of ignored. families will find open doors where previously they were shut out. and small businesses will be empowered to grow rather than languish in regulatory uncertainty. one provision of this
legislation that i authored the mobile act embodies exactly the kind of commonsense help for families today's vote will provide. the mobile act will allow consumers across the country to open bank accounts on their mobile devices using a driver's license for personal i.d. meaning access to financial service also start in your pocket and be more convenient than ever. approximately 3/4 of the 20% of u.s. population that's under banked has access to a smart phone. this provision will help these americans get access to the critical banking service that is will set them on the path to financial success. mr. speaker, this historic package is about unraveling red tape that stifles financial success of all americans. i urge its passage here today. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlelady from california is recognized. ms. waters: i yield 1 1/2 minutes to the gentleman from rhode island, mr. cicilline, co-chair of the democratic policy and communications committee. the speaker pro tempore: the gentleman from rhode island is recognized for 1 1/2 minutes. mr. cicilline: i thank the gentlelady for yielding. i rise in strong opposition to
the bank lobbyist act which reverses the progress we have made since wall street brought our economy to the brink of collapse in 2008. this is yet another giveaway from our friends on the other side of the aisle to the wealthy donors who bankroll their campaigns. and once again working people will get screwed. congress established consumer financial protection bureau to protect the middle class from the big banks and corporate special interests. since 2010 the cfpb as returned nearly $12 billion to consumers in all 50 states. it's been a big step forward for working people. but this bill turns the clock back. republicans going to let the banks right the same risky loans that got us into the great recession in the first place. this is a bad deal for the american people. they deserve better. let's defeat this bill and put working families first. with it i yield back. the speaker pro tempore: the gentleman yields back. the gentleman from texas is recognized. mr. hensarling: i yield a minute and a half to the gentleman from minnesota,