McHenry Discusses Bill to Help Community Banks on Varney & Co

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PATRICK McHENRY, REPUBLICAN
FROM NORTH CAROLINA.
HE'S THE HOUSE MAJORITY DEPUTY
WHIP.
CONGRESSMAN, IF YOU VOTE -- IF
THE HOUSE VOTES YES ON THIS BILL
TODAY, AM I RIGHT IN SAYING THAT
DODD-FRANK IS ESSENTIALLY
GUTTED, CORRECT?
IS.
>> THAT'S RIGHT.
THE KEY TENETS OF DODD-FRANK
WILL BE UNMOORED.
IT'S TAKEN EIGHT YEARS AND
PRESIDENT TRUMP TO MAKE THIS
HAPPEN.
AND I THINK WE'RE GOING TO HAVE
A GREAT, SUCCESSFUL VOTE TODAY,
AND THE PRESIDENT WILL HAVE A
GREAT SIGNING CEREMONY NEXT
WEEK.
STUART: NOW, I BELIEVE THAT THE
COMMUNITY BANKS ARE REALLY,
REALLY HAPPY ABOUT THIS BECAUSE
THEY SUFFERED MIGHTILY UNDER
DODD-FRANK.
THEY ARE GOING TO GET RELIEF
TODAY.
WE'VE GOT A LOT OF COMMUNITY
BANKERS WHO WATCH THIS PROGRAM,
AND THEY'RE ROOTING FOR IN THIS
TO GO THROUGH.
THEY HAD BEEN IN A BETTER
POSITION TOMORROW IF YOU VOTE
YES TODAY, IS THAT CORRECT?
>> OH, FOR SURE.
I MEAN, WHAT -- THE WORST PART
OF, THE WORST ASPECT OF
DODD-FRANK WAS THAT IT PUT THIS
ONEROUS REGULATORY BURDEN ON
SMALL COMMUNITY BANKS AND EVEN,
YOU KNOW, SUBSTANTIAL REGIONAL
BANKS THAT WERE NOT A PART OF
THE FINANCIAL CRISIS AND DID NOT
NEED THE NEW LEVEL OF REGULATION
AND REGULATORY COSTS.
I WAS WITH A COMMUNITY BANK IN
MY DISTRICT THAT, IN BLACK
MOUNTAIN, TEXAS, THEY'VE GOT
FEWER THAN 40 EMPLOYEES, AND
THEY'RE STRUGGLING TO KEEP THE
DOORS OPEN AND KEEP LENDING IN
THE COMMUNITY.
SO OUR BILL TODAY TAKES A HUGE
WHACK AT DODD-FRANK, GIVES
REGULATORY RELIEF SO COMMUNITY
BANKS CAN GET BACK TO THE
LENDING WE DESPERATELY NEED
TO --
STUART: OKAY.
YOU'RE THE DEPUTY MAJORITY WHIP.
IT'S YOUR JOB TO CORRAL THE
VOTES.
HAVE YOU GOT 'EM?
>> YEAH, ABSOLUTELY.
STUART: OKAY.
>> THIS IS A FANTASTIC VOTE,
GOOD BIPARTISAN VOTE.
STUART: OKAY.
ONE QUICK QUESTION.
SPEAKER RYAN WANTS TO STAY IN
THE SPEAKERSHIP UNTIL THE END OF
JANUARY.
IS HE GOING TO LAST THAT LONG?
>> I THINK SO.
I THINK PAUL HAS THE SUPPORT OF
HOUSE REPUBLICANS TO STAY AND
FINISH OUT HIS SPEAKERSHIP.
I THINK WE'VE GOT, YOU KNOW,
CORRALLING HOUSE REPUBLICANS IS
QUITE A CHALLENGE, ALWAYS IS,
ALWAYS WILL BE.
IT'S IN THE NATURE OF WHO WE ARE
AS INDEPENDENT OPERATORS AS
REPUBLICANS AND CONSERVATIVES,
AND HOUSE REPRESENTATIVES IS
VERY ACTIVE IN THAT ACCORD.
SO WE'VE GOT PLENTY OF DIFFERENT
PREPONDERANCES.
THAT HASN'T CHANGED UNDER --
OPINIONS, THAT HASN'T CHANGED
UNDER THIS SPEAKER, NOR WILL IT
EVER CHANGE.
WE'LL MAKE IT THROUGH THIS YEAR,
STILL MAKE PROGRESS FOR THE
AMERICAN PEOPLE.
STUART: OKAY.
WE WISH YOU WELL ON THE VOTE
TODAY, CONGRESSMAN McHENRY, WE

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McHenry Discusses Bill to Help Community Banks on Varney & Co

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