[Congressional Record (Bound Edition), Volume 163 (2017), Part 7]
[House]
[Page 8999]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1645
                   DARK DAYS OF THE FINANCIAL CRISIS

  (Mrs. WATSON COLEMAN asked and was given permission to address the 
House for 1 minute.)
  Mrs. WATSON COLEMAN. Madam Speaker, in the wake of the financial 
crisis, 7.8 million American consumers lost their homes through 
foreclosure. The failure to have a responsible regulatory environment 
also resulted in taxpayers paying $7 trillion to bail out financial 
institutions through loans and, according to some reports, an 
additional $22 trillion through the Federal Government's purchase of 
assets.
  My home State of New Jersey was severely impacted by this crisis and 
still feeling the effects. So this is personal.
  The Financial CHOICE Act is the wrong choice for Americans. This bill 
guts many of the commonsense protections that are outlined in Dodd-
Frank and severely restricts the Consumer Financial Protection Bureau 
from doing its job.
  The ``Wrong'' CHOICE Act gives Wall Street a hand while ignoring the 
needs of hardworking Americans. It will allow predatory lending 
practices to go unchecked and profiteers on Wall Street to skirt 
consequences.
  Wall Street reform and other Democratic policies have given our 
country the strongest consumer protections in history.
  I will continue to stand up for hardworking Americans and reject the 
``Wrong'' CHOICE Act before Republicans pave the way back to the dark 
days of the financial crisis.

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