[Congressional Record Volume 150, Number 86 (Monday, June 21, 2004)]
[House]
[Pages H4585-H4587]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
COMMUNITY BANKING MONTH
Mr. Renzi. Mr. Speaker, I move to suspend the rules and agree to the
resolution (H. Res. 591) expressing the gratitude of the House of
Representatives for the contributions made by America's community banks
to the Nation's economic well-being and prosperity and the sense of the
House of Representatives that a month should be designated as
``Community Banking Month.''
The Clerk read as follows:
H. Res. 591
Whereas, since our Nation's founding, community banks have
supported their communities as they prospered and grew, and
today more than 8,700 community banks continue the tradition
of giving back to their local communities through nearly
40,000 banking offices;
Whereas, with more than $2,275,000,000,000 in assets,
community banks know that when money stays in town it becomes
a renewable resource, creating an economic cycle that
constantly revitalizes and stimulates local communities;
Whereas community banks are working citizens in their
communities in every sense of the word with more than 514,000
full-time and part-time employees;
Whereas these banks have made significant contributions to
the economic well-being of our Nation through their financial
support, their dedication as good neighbors and, above all,
their service as financially sound and reliable sources of
economic lifeblood in our communities;
Whereas the Nation's community banks focus on the
prosperity of individuals and small businesses in their
hometowns and have reinvested, on average, 95 percent of
their loan portfolio in their own communities through home
mortgages and small business, agricultural, and student
loans;
Whereas community banks play a significant role in local
economic development efforts by financing new businesses and
stimulating the economy to produce jobs and new opportunities
and, as a group, they contribute an important and strong part
of the Nation's economic fabric;
Whereas community banks have made nearly 3,160,000 loans to
small businesses, totaling over $275,500,000,000 and nearly
720,500 loans to small farms, totaling nearly
$37,500,000,000;
Whereas community banks also enjoy the trust of their
customers; indeed, community banks are just neighbors are
helping neighbors build their homes, save for higher
education, plan for retirement and fulfill other dreams; and
Whereas community banks have long helped in the development
of our communities and the Nation as a whole, and are fully
prepared to make many more contributions: Now, therefore, be
it
Resolved, That--
(1) the House of Representatives expresses its gratitude
for the contributions made by America's community banks to
the Nation's economic well-being and prosperity; and
(2) it is the sense of the House of Representatives that--
(A) a ``Community Banking Month'' should be designated to
raise public awareness of, and public appreciation for, the
contributions of the helpful institutions that are our
Nation's community banks; and
(B) the President should issue a proclamation calling on
the people of the United States to observe the month with
appropriate programs and activities.
The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Arizona (Mr. Renzi) and the gentleman from Massachusetts (Mr. Capuano)
each will control 20 minutes.
The Chair recognizes the gentleman from Arizona (Mr. Renzi).
General Leave
Mr. RENZI. Mr. Speaker, I ask unanimous consent that all Members may
have 5 legislative days within which to revise and extend their remarks
on this legislation and insert any extraneous materials on the
resolution.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Arizona?
There was no objection.
Mr. RENZI. Mr. Speaker, I yield myself 5 minutes.
Mr. Speaker, H. Res. 591 expresses the gratitude for the
contributions made by America's community banks to the Nation's
economic well-being and prosperity and the sense of the House of
Representatives that a month should be designated as Community Banking
Month. This legislation was introduced by the gentleman from Alabama
(Mr. Bachus) to recognize community banks for their contribution to the
very fabric of our community.
Community banks help to shape communities into centers of commerce
and entrepreneurship and provide for community and industrial
development.
Community bankers are themselves among the leading leaders of our
community, engaging in civic and benevolent activities. Nationwide,
there are over 8,700 community banks serving their local communities
through almost 40,000 banking offices.
Community banks have reinvested on average 95 percent of their loan
portfolio in their own communities through home mortgages and small
businesses, agricultural, and student loans. This reinvestment plays an
important role in local economic development and in efforts to finance
new businesses, as well as stimulating the local economy to produce
jobs and new opportunities.
Community banks are themselves small businesses, so they understand
the needs of small business owners. Their core concern is lending to
small businesses and farms. Studies have shown that they are the
primary advisors to small businesses.
Community banks have made nearly 3,160,000 loans to small businesses,
and over 720,500 loans to small farms.
Mr. Speaker, on behalf of the community banks and in recognition of
their great contribution to our local communities and to our small
businesses around the country.
Mr. Speaker, I reserve the balance of my time.
Mr. CAPUANO. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise in support of H. Res. 591, a resolution
recognizing the contributions of community banks to the Nation's
economic well-being and prosperity and expressing the sense of the
House that a month should be designated as Community Banking Month.
Community banks play a vital role for our country. Of the 7,712
commercial banks in operation today, all but 419 are community banks
having assets of less than $1 billion. Community banks are known for
being close to their customers and provide the leadership for many
civic endeavors. These bankers are able to make loan decisions locally
and reinvest local deposits into their local communities.
Community bankers also are active in helping people understand the
sometimes complex nature of the banking business. Many community
bankers participate in efforts to help consumers
[[Page H4586]]
know the dangers posed by identity thieves. In Georgia, for example,
these bankers made presentations to almost 50,000 of our citizens,
giving them tips on how to avoid becoming a victim. These same bankers
also helped educate our citizens on how to apply for a business loan,
how to choose banking as a career, and how to get a mortgage
refinanced.
While the total number of community banks in the United States is
decreasing due to consolidation, new community banks are proliferating.
In fact, 1999 witnessed the highest number of new community banks
formed in nearly a decade, with 268 new charters reported.
Community banks focus attention on the needs of local families,
businesses, and farmers. They channel most of their loans in the
neighborhoods where their depositors live and work. Community banks
offer their customers services at attractive prices. For example,
average rates for checking accounts and other depository services on
average are 15 percent lower at small banks than at large, multistate
institutions, according to the 2001 PIRG report.
They can offer nimble decisionmaking on business loans, because
decisions are made locally. And because community banks are themselves
small businesses, they understand the needs of small business owners.
Their core concern is lending to small businesses and farms.
What does it mean to be a community bank? Community banking is a
devotion to serving community customers and communities. They put
people into homes, serve small businesses, and help them grow and
prosper. They provide student loans and set up retirement plans for
their customers.
Mr. Speaker, community banks and the more than half a million people
who work for them truly deserve our recognition for their contributions
to the Nation's economy and well-being.
Mr. OXLEY. Mr. Speaker, I rise today in strong support of H. Res.
591, a resolution expressing the gratitude of the House of
Representatives for the contributions made by America's community banks
to the Nation's economic well-being and prosperity and the sense of the
House of Representatives that a month should be designated as
``Community Banking Month''. Community banks are the lifeblood of our
local economies, and this is an appropriate way to recognize their
contribution.
Mr. Speaker, I am including for the record correspondence between the
gentleman from Virginia (Mr. Davis) and myself regarding the
jurisdictional interest of the Committee on Government Reform. I
appreciate his efforts in permitting this resolution to reach the floor
quickly.
House of Representatives,
Committee on Government Reform,
Washington, DC, June 21, 2004.
Hon. Michael G. Oxley,
Chairman, Committee on Financial Services,
House of Representatives, Washington, DC.
Dear Mr. Chairman: Thank you for consulting with the
Government Reform Committee regarding H. Res. 591, expressing
the gratitude of the House of Representatives for the
contributions made by America's community banks to the
Nation's economic well-being and prosperity and the sense of
the House of Representatives that a month should be
designated as ``Community Banking Month.'' As you know, the
Committee on Government Reform has jurisdiction over holidays
and celebrations.
Because of your willingness to consult with my committee, I
will not seek a sequential referral of the resolution to the
Committee on Government Reform. By agreeing to not seek
sequential referral, the Government Reform Committee does not
waive its jurisdiction over H. Res. 591. I respectfully
request that you include this letter and your response in the
Congressional Record during consideration of this legislation
on the House floor. Thank you for your attention to these
matters.
Sincerely,
Tom Davis,
Chairman.
____
House of Representatives,
Committee on Financial Services,
Washington, DC, June 21, 2004.
Hon. Tom Davis,
Chairman, Committee on Government Reform,
Washington, DC.
Dear Chairman Davis: Thank you for your recent letter
regarding your Committee's jurisdictional interest in H. Res.
591, a resolution expressing the gratitude of the House of
Representatives for the contributions made by America's
community banks to the Nation's economic well-being and
prosperity and the sense of the House of Representatives that
a month should be designated as ``Community Banking Month''.
I acknowledge your committee's jurisdictional interest in
this legislation and appreciate your cooperation in allowing
speedy consideration of the resolution. I agree that your
decision to forego further action on the bill will not
prejudice the Committee on the Government Reform with respect
to its jurisdictional prerogatives on this or similar
legislation.
Finally, I will include a copy of your letter and this
response in the Congressional Record when the legislation is
considered by the House
Thank you again for your assistance.
Sincerely,
Michael G. Oxley,
Chairman.
Mr. BEAUPREZ. Mr. Speaker, I rise in support of H. Res. 591, and to
honor the significant, longstanding contribution of America's Community
Banks.
In hometowns all across America, Community Banks have been the anchor
for countless generations.
Moms and dads raising families, educating their children, planning
for a comfortable retirement; farmers, entrepreneurs and innumerable
small businesses that are the cornerstone of our free-market economy;
churches, hospitals, schools, civic organizations--indeed the entire
fabric of America's culture--all know they have a partner and friend in
their hometown Community Bank.
Jimmy Stewart romanticized the legacy of hometown bankers as George
Bailey in the Christmastime classic, ``It's a Wonderful Life''.
Mr. Speaker, while the movie's plot was fictional, in neighborhoods
and towns all across America, there are real life George Baileys that
work hard and nobly, extend a helping hand, help see families and
businesses through difficulties, and make dreams come true on a daily
basis.
Like the other small businesses in America's hometowns, Community
Banks are typically owned by the folks right there in the community.
They know their neighbors, and their neighbors know them. They know a
handshake still matters. Their kids go to school together, and they see
each other at church.
Community Banks depend on the people in the community for their
success, and the community depends on the bank to be there for them--
through good times and tough times. It's a partnership that isn't drawn
up on any contract, but it is understood and established with a bond
far stronger than paper and ink.
So, Mr. Speaker, I proudly support H. Res. 591, and urge all my
colleagues in the House to join me in expressing gratitude for the
contribution of our Nation's Community Banks, as one of our country's
great traditions.
Ms. JACKSON-LEE of Texas. Mr. Speaker, I rise today to support H.
Res. 591 which recognizes the contributions made by America's community
banks to this Nation's economic well-being and prosperity. These
community banks are imperative to the success of any local community.
Their recognition today is well deserved and I am in support of the
effort to designate one month as Community Banking Month.
Community banks, while often overlooked, offer many advantages to the
people and areas they serve. Community banks focus attention on the
needs of local families, businesses, and farmers. Community banks
channel most of their loans to the neighborhoods where their depositors
live and work. Community bank officers are typically deeply involved in
local community affairs. Many community banks are willing to consider
character, family history and discretionary spending in making loans.
Finally, because community banks are themselves small businesses, they
understand the needs of small business owners. Their core concern is
lending to small businesses and farms. Studies show that they are the
primary advisers of small businesses. It is fairly evident that
community banks are truly built by the community's efforts to serve the
community's interests.
I am of the belief that a Community Banking Month will help truly
reflect the necessary efforts that community banks make to serve their
customers. Not all businesses can be large, not all banks can be
national; there will always be a need for these services to be provided
on the community level. I want to thank all the community banks in
Houston and throughout the United States who on a day like today will
help some young couple secure their first home mortgage or allow a
young student to go to college by extending a student loan. It is
moments like these and the opportunities they provide that truly allow
us to realize our own piece of the American Dream.
Mr. CAPUANO. Mr. Speaker, I yield back the balance of my time.
Mr. RENZI. Mr. Speaker, I yield back the balance of my time.
The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from Arizona (Mr. Renzi) that the House suspend the rules and
agree to the resolution, H. Res. 591.
The question was taken.
The SPEAKER pro tempore. In the opinion of the Chair, two-thirds of
those present have voted in the affirmative.
[[Page H4587]]
Mr. RENZI. Mr. Speaker, on that I demand the yeas and nays.
The yeas and nays were ordered.
The SPEAKER pro tempore. Pursuant to clause 8 of rule XX and the
Chair's prior announcement, further proceedings on this motion will be
postponed.
____________________