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Financial Services

As a small business owner, I know firsthand the how intertwined the banking system is to the success of main street American businesses. I draw on this experience in my position on the House Financial Services Committee to ensure all Americans have access to competitively priced financial products and services. I remain committed to fighting against excessive regulations and bureaucratic red tape and allowing the banking system to continue to flourish.

Some of my work includes:

  • My bill, H.J. Res. 66, passed the House and the Senate before being vetoed by President Biden. This resolution aimed to halt the implementation of the Consumer Financial Protection Bureaus (CFPB) 1071 Small Business Lending Data Collection Rule, which added costly and burdensome reporting requirements on financial institutions, resulting in a decrease in credit for millions of Main Street borrowers.
     
  • Worked to reign in the CFPB from pushing unreasonable regulations on Americans by cosponsoring numerous bills: H.R. 1313, H.R. 1806, H.R. 2489, H.R. 6789, and H.R. 1382, and had an amendment pass the House to prohibit any regulation coming from the CFPB with an economic impact of over $100 million dollars.
     
  • Sent multiple letters to the Secretary of the Treasury and Director of the Financial Crimes Enforcement Network (FinCEN) regarding concerns with their Beneficial Ownership Information Rule and the effect it would have on small business owners.
     
  • My bill, H.R. 5422, the Small Business Working Group Act, which passed Committee, would require FinCEN to establish a small business working group dedicated to educating small business owners on BOI reporting requirements.
     
  • Introduced H.R 7057, the Evaluating Financial Impacts of Illegal Immigration Act, which requires the Financial Stability Oversight Council (FSOC) to include illegal immigration as a threat to the financial stability of the United States, and report to Congress on how we can mitigate these threats.
     
  • My bill, the Border Security Reserve Fund Act (H.R. 7058) establishes a reserve fund at Treasury to be used by border states to secure border from illegal immigration. The funding will come from confiscated drug money seized by CBP.

  • Co-led H.R. 1156, the China Financial Threat Mitigation Act, passed the House, which identifies systemic threats associated with China’s shadow banking sector and address solutions to mitigate those risks.
     
  • My bill, H.R. 1109, the Bank Service Company Examination Coordination Act, passed out of Committee, would streamline the supervisory exam process on private companies.
     
  • Voted for the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155), which was the largest banking regulatory relief package that was signed into law since the financial crisis in 2008.
     
  • Passed the Bank Service Company Examination Coordination Act (H.R. 241) to streamline the supervisory exam process on private companies.
     
  • Introduced the Consumer Transaction Account Protection Act (H.R. 4501) to create more clear-cut guidelines for technology companies to partner with financial institutions.
     
  • Introduced the Preserving Small Business Lending Act of 2020 (H.R. 5574) to prevent the government from further encroaching on the normal business operations of community financial institutions.
     
  • Voted for the Financial CHOICE Act (H.R. 10), that would have repealed some of the most burdensome government regulations that were put in place following the 2008 financial crisis.
     
  • Led efforts to prevent the CECL accounting standard from being implemented, which would greatly affect the ability of financial institutions to give loans.