[Congressional Record (Bound Edition), Volume 160 (2014), Part 6]
[House]
[Page 7612]
[From the U.S. Government Publishing Office, www.gpo.gov]




         THE CFPB RURAL DESIGNATION PETITION AND CORRECTION ACT

  (Ms. JENKINS asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Ms. JENKINS. Mr. Speaker, I rise today to voice my support for H.R. 
2672, the CFPB Rural Designation Petition and Correction Act.
  One of the most troubling aspects of the Dodd-Frank Act was its 
creation of the Consumer Financial Protection Bureau, which is a new 
bureaucracy with broad powers that is unaccountable to Congress or the 
American people.
  When I talk to financial institutions in Kansas, one of their main 
concerns with this agency is that the CFPB will fail to correctly 
classify rural banks and, possibly, leave them open to overzealous 
regulation as a result.
  I am a proud cosponsor and supporter of this bill, which will allow 
these financial institutions a way to appeal the CFPB's decisionmaking 
process and ensure that rural lenders and their communities are not 
unintentional victims of poor decisionmaking by the CFPB.

                          ____________________