OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Providing for Congressional Disapproval of the Rule Submitted By the Office of the Comptroller of Currency Relating to ``National Banks and Federal Savings Associations As Lenders''

Floor Speech

By: Al Green
By: Al Green
Date: June 24, 2021
Location: Washington, DC
Issues: Finance and Banking

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Mr. GREEN of Texas. And still I rise, Madam Speaker. Again, I thank the chairwoman for the time and the opportunity.

I would say to all, I recall the debate around the yield spread premium, wherein a loan originator could say to a person, ``Here is a loan, you are lucky to get it for 10 percent'' when the person qualified for a loan at 5 percent.

We eliminated the dastardly yield spread premium and the harm that it caused. We have a similar circumstance with the rent-a-bank scheme that steals the American Dream, such that people who qualify for better loans will likely get higher loans because they don't always understand the scheme.

So I rise today, and I thank Mr. Garcia for what he has done to bring this bill to fruition. I thank the Chairwoman, and I absolutely support the legislation.

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