Floor Speech on Congressional Review Act Resolutions S. J. Res. 13, 14 and 15
Washington, D.C. – Speaker Nancy Pelosi delivered remarks on the Floor of the House of Representatives in support of Congressional Review Act Resolutions S. J. Res. 13, 14 and 15. Below are the Speaker’s remarks:
Speaker Pelosi. Thank you very much, Madam Speaker. I thank the gentlewoman for yielding and for her leadership in bringing this important legislation, more than one pieces of legislation, to the Floor today.
As I rise to speak in support – to reverse the anti-consumer ‘Fake Lender’ rule, pushed through in the final weeks of the previous Administration, I just want to take a moment to put it in perspective. Madam Speaker, in November the American people elected Democratic Majorities in the Congress that would be For The People, fighting for the public interest, not the special interest. And to that end, they elected Majorities that would reverse the damage – inflicted on their health and financial security – of the last Administration.
That mission is why the House this week is passing legislation under the Congressional Review Act to reverse three of the past President's most egregious assaults on families' well-being. The Congressional Review Act is one of the Congress's most important tools to reassert the power of the People's House to deliver For The People and to reclaim our authority under the Constitution, upholding the balance of powers that is the foundation of our American democracy.
With the gentlewoman's – Madam Chair's permission, I wish to speak to the anti-consumer ‘Fake Lender’ rule, but also speak to two other issues under the Congressional Review Act this afternoon.
On the Floor today is legislation, again, to reverse the anti-consumer ‘Fake Lender’ rule, pushed through in the final weeks of the previous Administration. This ‘Fake Lender’ rule green lights rent-a-bank schemes in which predatory lenders evade bank interest rate limits to swindle vulnerable consumers. This is done by putting a bank name on loan paperwork and claiming that the bank, not the predatory lender, issued the loan. To take one example, in California, where the interest rate on a two-year $2,000 loan is capped at 25 percent, lenders can rent-a-bank partnership to make loans with rates up to 225 percent.
This bipartisan resolution to end the ‘Fake Lender’ rule is supported by many. A bipartisan coalition of 25 state Attorneys General. Fake lenders – faith leaders, including the National Latino Evangelical Coalition, the National Association of Evangelicals, the National Baptist Convention, USA, hundreds of banking law and consumer financial regulations scholars and Americans across the country and across parties urging us to support this Congressional Review Act reversal of the anti-consumer ‘Fake Lender’ rule.
Also today, we’re considering legislation to undo an anti-worker, pro-discrimination rule forced through the final week of the past Administration. The EEOC was established to protect working people from discrimination and ensure that discrimination charges are resolved fairly.
But this rule would impose draconian new obligations that bias the conciliation process against employees and toward employers, escalate the potential for retaliation – retaliation claims make up half of EEOC’s charges filed at the EEOC last year – siphon off scarce EEOC resources and saddle EEOC with wasteful collateral litigation, prolonging harm to workers through delay, contravene both the Supreme Court precedent and Congressional intent.
This month, civil rights workers and workers’ rights organizations wrote to Congress in support of S.J. Res. 13 – Senate Joint Resolution 13 – writing, ‘The EEOC must be able to conduct its work efficiently to prevent and remedy workplace discrimination. This mission is even more critical in the middle of a global pandemic that continues to have severe economic repercussions for women, people of color and other marginalized communities. The final rule will only deepen the barriers working people face coming forward to report discrimination, obtain justice.’
This Congressional Review Act legislation passed the Senate. Hopefully, it will pass the House today.
And finally, tomorrow we take up bipartisan legislation that paves the way to restore the Obama-era protections against harmful methane pollution, which the past President – most recent past President – rolled back. Briefly, these safeguards are key protections for public health that will also make a serious difference in combating the climate crisis. Methane is responsible for at least one quarter of the warming of the planet. And it is 25 times more potent than carbon dioxide in trapping heat in the atmosphere. This resolution passed on a bipartisan basis in the Senate and in the Energy and Commerce Committee. And it builds on the commitment of the President and the Democratic Congress to tackle the climate crisis. As the Administration has stated, addressing methane pollution is an urgent and essential step.
So, Madam Speaker, with that – as Speaker, I'm proud to be able to use the Speaker's prerogative to speak beyond the item on the Floor right now. I'm proud to support these important actions to reverse the Trump damage and to deliver results that make a difference in the lives of hardworking American families. Thank you to all of our leaders for this legislation For The People. Chair Bobby Scott and Representative Suzanne Bonamici on the EEOC. Representative Chuy García for his work on the ‘true lender’ resolution. Rep. Diana DeGette and Chairman Frank Pallone and many others on the methane resolution on the Energy and Commerce Committee. With that, I urge a strong vote on S.J. Res. 13, 14 and 15.
And coming back to the Resolution on the Floor right now, I thank the distinguished Chair of the Financial Services Committee for her leadership in looking out, always, for the consumer, for competition, for fairness, For The People.
Thank you, Madam Chair. With that, I yield back my time.