[Congressional Record Volume 158, Number 98 (Wednesday, June 27, 2012)]
[House]
[Page H4157]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

           By Mr. COFFMAN of Colorado:
       H.R. 6037.
       Congress has the power to enact this legislation pursuant 
     to the following:
       The constitutional authorities on which this bill rests is:
       Article I, Sec. 8, Clause 3, the Commerce Clause, of the 
     United States Constitution
       This states that ``Congress shall have power to . . . 
     regulate commerce with foreign nations, and among the several 
     states, and with the Indian tribes.'' The power to regulate 
     commerce among the several states is the power to define 
     conditions and rules for commercial transactions, and the 
     regulation of the prices and terms of sale. Establishing 
     regulations which govern the monetary policies federal 
     banking regulators dictate financial institutions must 
     follow, and the interactions between those regulators and 
     institutions, affects the ability of these institutions to 
     conduct business transactions with clients among the several 
     states, and thus falls under the commerce clause.