Consumer Financial Protection Safety and Soundness Improvement Act of 2013

Floor Speech

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Mr. KELLY of Pennsylvania. Mr. Chairman, I rise in strong support of H.R. 3193.

I am an automobile dealer, and my family has been in the business for 63 years.

CFPB is kind of interesting because what we have done now, we have absolutely abandoned the rulemaking process, and we have gone to another type of influencing

people; and the relationship that car dealers have with their customers is sometimes to navigate a very difficult financial system to get their loans arranged.

But no, we want to do it a different way. We want to do it with guidance. Here is the way it kind of works. It is like the policeman walking his beat and pulling out his billy club and tapping it on his hand and saying: I strongly suggest you follow my guidance.

There is no oversight on this. This group of people are going to make decisions by not even consulting us, the people. We do represent the people, and I would like to think that we can come together once in a while to do what is in the best interest of the people that we represent, not a Republican issue, not a Democratic issue, but an American issue.

We have to do these things. Again, strong suggestions that you follow my guidance, as opposed to letting people sit down and negotiate themselves, that is not the way the American system works.

It never has, never will. It never should have happened. CFPB should have never come to the light of day.

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