June 25, 2020 - Issue: Vol. 166, No. 117 — Daily Edition116th Congress (2019 - 2020) - 2nd Session

[Page H2506]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           PREDATORY LENDING

  (Ms. KAPTUR asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. KAPTUR. Mr. Speaker, I rise in strong support of Chairwoman 
Waters' resolution disapproving of President Trump's efforts to gut the 
Community Reinvestment Act, and I salute her for her leadership to 
support the financially underserved communities across our Nation.
  The administration's immoral rule change would roll back critical 
financial protections at a time when millions of Americans are facing 
down dire COVID-19 crises.
  Fair credit for all has always been an elusive goal for our Nation. 
Predatory lending is a plague in countless American communities, many 
of which are comprised of minorities or low-income residents.
  The Community Reinvestment Act says your money belongs to you, not to 
any loan shark, predatory lender, fast buck artist, or financial 
institution sucking the wealth out of your neighborhood.
  We must not only strengthen the CRA, but also increase the reach of 
credit unions and build out postal banking platforms to extend critical 
financial lifelines and fair credit to those who need it most.
  Mr. Speaker, I urge swift passage of this critical legislation, and I 
urge my colleagues to support it.

                          ____________________