MARIA: WELCOME BACK.
ROLLING BACK REGULATIONS THE
DUST IS SET TO VOTE ON
LEGISLATION TO UNDO PARTS OF
DODD-FRANK.
THE LARGEST CHANGE TO THE BILL
SINCE IT WAS ENACTED IN 2010.
HOUSE FINANCIAL SERVICES AND
MEMBER CLAUDIA TENNEY.
GOOD TO SEE YOU THIS MORNING.
THANKS FOR JOINING US.
YOUR EXPECTATIONS FOR THE VOTE.
>> I THINK IT'S GOING TO PASS
AND WE TALKED TO THE PRESIDENT
YESTERDAY AT ANOTHER BILL
SIGNING ABOUT COMING BACK
THURSDAY TO MAKE THIS LAW AND WE
IT'S NOT GOING TO DO EVERYTHING
WE WANT, BUT DEFINITELY A BIG
STEP FORWARD IN REDUCING
BURDENSOME REGULATIONS IMPOSED
ON OUR SMALL COMMUNITY BANKS,
CREDIT UNIONS AND INCREASED
FUNDING OPPORTUNITIES FOR SMALL
BUSINESSES AMONG WHICH ARE
REALLY IMPORTANT.
THEY CREATE 70% OF NEW JOBS IN
MY COMMUNITY AND IT'S GOING TO
BE A GREAT ENHANCER TO THE TAX
REFORM, WHICH IS GROOVING TO BE
A REAL WINNER FOR SMALL
BUSINESSES IN MY COMMUNITY.
MARIA: IT IS CRAZY TO HAVE A
SMALL BANK ON THE CORNER FACE
THE SAME EXACT REGULATIONS THAT
THE GLOBAL BANKS LIKE THE JP
MORGAN'S OF THE WORLD FACE AS
WELL.
BUT TOTALLY DIFFERENT BALANCE
SHEET.
>> WE'VE LOST SO MANY SMALL
COMMUNITY BANKS THAT THERE IS
GRASS GROWING.
TUMBLEWEED GRASS GROWING OLIVER
THE PLAYS.
IT IS REALLY SAD WHEN YOU SEE
ALL THE THINGS THAT USED TO BE
YOUR NEIGHBORHOOD BANKER.
THEY LONGED.
THEY LONG TO OUR LOCAL FARMERS,
SMALL BUSINESSES, GOT EVERYBODY
THERE STARTS HAVE BEEN
ELIMINATED AND WE ARE MOVING A
STEP FORWARD TO BRINGING THOSE
FOR SMALL BUSINESSES.
AND JUST INDIVIDUALS.
IF YOU'RE ABLE TO WORK NOW TO
EVEN GET MORTGAGES.
THE BANKS WERE SO LIMITED BEFORE
THAT EVEN REGIONAL BANKS WILL
BENEFIT FROM THIS.
WE'D LIKE TO GO FURTHER, BUT
KUDOS TO MY CHAIRMAN WHOSE
TERRIFIC.
JEB HENSARLING.
>> A LITTLE BIT FURTHER.
SOME FROM FELLOW REPUBLICANS
SAID THE MOST HATED COMPONENTS
YOU MIGHT SAY FROM A REPUBLICAN
POINT OF VIEW OF THE CFP VIEW
OTHER THINGS TO REMAIN IN PLACE
DESPITE THE PAST.
WOULD YOU SAY TO THE CRITICISM
THAT IT DOES NOT GO FAR ENOUGH?
>> MY FRUSTRATION IS A
CONSERVATIVE IN WASHINGTON IS
FIT TO GO TWO STEPS FORWARD AND
ONE STEP BACK.
I'D RATHER BE HITTING SINGLES
THAN SITTING IN THE HOME RUN
DERBY THAT DOESN'T COUNT.
THIS IS A GOOD THING FOR US,
MOVING US FORWARD AS WE CONTINUE
TO FIGHT TO ROLL BACK
REGULATIONS.
BY THE WAY, TO THOSE PICKED UP
HER MIND.
AS A FRESHMAN MEMBER OF EXCITED
TO HAVE TWO SUBSTANTIVE BILLS
PASSING AND BECOME A LAW
HOPEFULLY THURSDAY WHEN THE
PRESIDENT SIGNS IT.
MARIA: THAT'S WONDERFUL.
BEFORE YOU GO, JOHN.
THE BATTLE IN THEIR OWN HOME
STATE, ACTRESS CYNTHIA NIXON
TAKEN ON GOVERNOR CUOMO IN THE
DEMOCRATIC PRIMARY.
ANOTHER REPORTS THAT HILLARY
CLINTON WILL ENDORSE CUOMO AFTER
CONTROVERSIAL COMMENTS FROM
FORMER SECRETARY OF STATE
MADELEINE ALBRIGHT.
REMEMBER THIS ON THE 2016
CAMPAIGN TRAIL.
>> HILLARY CLINTON WILL ALWAYS
BE THERE FOR YOU.
JUST REMEMBER THERE'S A SPECIAL
PLACE IN FOR WOMEN WHO DON'T
HELP EACH OTHER.
[CHEERS AND APPLAUSE]
YOUR REACTION, CONGRESSWOMAN.
>> FIRST OF ALL, SHE'S NOT THERE
FOR ME AND SHE NEVER WAS AS
THEIR SENATOR.
IT'S A BEAUTIFUL MARRIAGE THAT
THE QUEEN OF PAY TO PLAY IS NOW
UNDERSTAND THE KING OF PAY TO
PLAY IN TO SEE WHERE THAT GOT
YOU.
ANDREW CUOMO HAS NEARLY
DESTROYED THE NEW YORK STATE
ECONOMY WITH THE AGGRESSIVE
PROGRESSIVE REGIME THAT HAS
CAUSED OUR SMALL BUSINESSES TO
CLOSE AND MANY TO LEAVE.
WE HAVE OVER A BILLION SPAMS IN
WHAT I CALL CRONYISM PAY TO PLAY
MONEY.
A FEDERAL CORRUPTION CHARGES
THAT ARE TRIALS THAT ARE
CARRYING ON THIS YEAR DURING HIS
CAMPAIGN.
WE HAVE THE LARGEST MIGRATIONS
OF PEOPLE IN THE ENTIRE NATION.
BUT IT WOULD HAVE FOR A BILLION
WAS SPENT IN CRONYISM?
DEAD LAST IN JOB CREATION.
THANK GOD FOR THE TAX REFORM
GIVING A LITTLE BIT OF HOPE TO
OUR BUSINESSES AND HOME GROWN
SMALL BUSINESSES LIKE MY OWN AND
MANY OTHERS.
BEEN HANGING OUT IN NEW YORK AND
TRYING TO MAKE IT WORK IN
PRESIDENT TRUMP, KEVIN BRADY,
WE'VE BEEN TRYING TO KEEP IT A
LITTLE MORE BUSINESS FRIENDLY.
I'M REALLY EXCITED ABOUT THAT.
I'M NOT SURPRISED AT ALL THE TWO
ESTABLISHMENT CRONY US WILL HAVE
A BEAUTIFUL MARRIAGE.
>> THEY GO BACK IN THE BILL
CLINTON ADMINISTRATION.
>> AGENTS USED IN HE WORKED IN
THE CLINTON ADMINISTRATION
DURING THE TIME WHEN WE HAD A
PROBLEM WITH THE HOUSING CRISIS
AND WHAT CAUSED DODD-FRANK TO BE
THROWN THROUGH BY THE DEMOCRATS
IS VERY INTERESTING.
MARIA: HE WAS THE HEAD OF HUD.
>> YES,.
>> I WANT TO GO BACK TO THE BANK
BILL THAT'S GOING TO PASS.
CAN YOU POINT OUT THE ONE OR TWO
SPECIFIC PROVISIONS IN THE BILL
THAT MATTER TO MOVE THE
REGULATORY LANDSCAPE WITH THE
SMALL BANKS ON STRESS TEST.
WHAT ARE THE ONE OR TWO THINGS
YOU THINK MOVE THE BALL ON THIS
BILL.
>> YOU ASK ME TO TALK ABOUT MY
TWO BILLS THAT I OF COURSE THINK
ARE VERY IMPORTANT.
JUST THE FACT WE ARE WILLING
BACK IN SO MANY PLACES, YOU
MENTION STRESS TESTING WITH A
LITTLE RELIEF TO THE BANKS ON
THAT SIDE OF IT.
ESPECIALLY ONE OF THE THINGS I'M
SUPPORTING IT IS STRESS TESTING
RELIEF ON SMALL COMMUNITY BANKS.
INSTEAD OF HAVING TO GO THROUGH
THE STRESS TEST AND EXAMINATION.
THE STRESS TEST AND EXAMINATIONM
THE STRESS TEST AND EXAMINATIONN
THE STRESS TEST AND EXAMINATIONH
THE STRESS TEST AND EXAMINATION,
THE STRESS TEST AND EXAMINATIONS
THE STRESS TEST AND EXAMINATIONA
THE STRESS TEST AND EXAMINATIONL
THE STRESS TEST AND EXAMINATIONR
THE STRESS TEST AND EXAMINATIONB
THE STRESS TEST AND EXAMINATIONN
THE STRESS TEST AND EXAMINATIONS
THE STRESS TEST AND EXAMINATION,
THE LOCAL BANKS WE HAVE, BANK OF
UTICA WHICH IS ONE OF THE GREAT
BANKS OF MY COMMUNITY.
THEY ONLY HAVE TO GO THROUGH AN
18 MONTH REGULATORY PROCESS
INSTEAD OF 12.
WITH LESS THAN SORT OF THE LOAD
ON BUSINESSES ON SMALL BANKS.
WHEN IT COMES TO LENDING,
COMMERCIAL LENDING RESIDENT.
THOSE THINGS WELL.
I WAS A BIG ATTORNEY.
I'VE REPRESENTED A NUMBER OF
BANKS BACK WHEN I WAS PRACTICING
LAW.
I KNOW HOW DIFFICULT IT IS TO GO
THROUGH THE PROCESS AND GET
SMALL TO CONSUMERS EVEN ON THE
MORTGAGE SIDE.