Floor Statements

Mr. Speaker, I rise today to ask my colleagues to join me in congratulating Mikayla Reed of the Washington High School Blue Jays for her first-place finish in the 800m, 1600m, 3200m Run at the 2018 Missouri Class 4 State Track and Field Championship.

Mikayla and her coach should be commended for all of their hard work throughout this past year and for bringing home the state championship to their school and community.

I ask you to join me in recognizing Mikayla Reed for a job well done.

Mr. Speaker, I rise today to ask my colleagues to join me in congratulating Gavin Weathers of the Vienna Eagles for his first-place finish in the Discus Event at the 2018 Missouri Class 2 State Track and Field Championship.

Gavin and his coach should be commended for all of their hard work throughout this past year and for bringing home the state championship to their school and community.

I ask you to join me in recognizing Gavin Weathers for a job well done.

Mr. Speaker, I missed roll call vote 306. Had I been present, I would have voted YEA on Roll Call No. 306.

Mr. Speaker, I rise today to honor the Fulton Chapter No. 35, Order of the Eastern Star, on their 100th Anniversary.

On September 21, 1917 Chapter No. 35 was founded by first Worthy Matron Anna Christian and first Worthy Patron Howard B. Lang. While the chapter has roots in Fulton, the dedicated members live throughout Missouri and surrounding states. There were 22 original signers who saw the vision of what the Fulton Chapter No. 35 could become. These signers were: Lena Newkomm, Julia Ann Neal, Anna Christian, Charles H. Christian, Selena Loveng, Bertie Fay Jackson, J. Roy Jackson, Gertrude Clatterbuck, Edgar Clatterbuck, Norma Lang, Howard B. Lang, Gertrude M. Brown, Jella D. Brown, Doyle S. Brown, Lulu Beaven, Theodore Beaven, Marie Le Noir, William Meng, John R. Pratt, Harry H. McIntire, Alice Koontz, and Elmer L. Koontz. Currently, the Fulton Chapter No. 35 is 102 members strong.

The members of this Masonry organization are dedicated men and women who consistently represent the spirit of fraternal love and the desire to work together to benefit mankind. Their hard work and charity is constantly felt by the community and dearly appreciated by the many lives they have and continue to touch.

They have been active in many charitable causes to benefit the community: Callaway Relay 4 Life, MoChip, Cancer Research, and the Masonic Home to name a few. Since the foundation of the organization, the lessons shared at the meetings have remained scriptural, the purpose beneficent, and the teachings moral. This type of teaching is a nod to the founder of the Order of the Eastern Star, Dr. Robert Morris, who had the vision of using beautiful and inspiring Biblical examples which in turn would be the noble principles Eastern Star members are encouraged to emulate. With this vision, the environment within the Eastern Star organization is dedicated to charity, truth, and loving kindness.

I ask you to join me in honoring Fulton Chapter No. 35, Order of the Eastern Star on their 100th Anniversary.

Mr. Speaker, I rise today to honor St. Thomas the Apostle Parish on their 150th Anniversary. They will be celebrating this historic milestone in June of 2019.

Since the early 1800's, the St. Thomas area had been visited by Jesuit missionary priests. In 1838 Father Ferdinand Helias, S.J. celebrated the first Mass in the area called ``Indian Bottom'' and went on to establish a strong faith community for many parishioners by founding approximately 20 mission churches in central Missouri. To this day, 7 of those mission churches are still in operation, serving the community members of Westphalia, Rich Fountain, Taos, Loose Creek, and Jefferson City.

In 1869, Archbishop Peter Kenrick, Archbishop of St. Louis, officially erected St. Thomas the Apostle Parish. When St. Thomas was established as a town, it was decided to move the church there and construction began in 1883. On October 22, 1884 the new building was dedicated and Father Aloysius Mayer served as the first pastor. Impressively, this is the church still being used today. In 1987, the pipe organ built by the J.G. Pfeffer Company of St. Louis was installed and in 2016 was historically restored. This year the Organ Historical Society recognized the organ as an instrument of national heritage.

Generations of families have benefited from the various spiritual opportunities offered at St. Thomas the Apostle. Weekly Sunday school and sacraments of Penance and Holy Communion are a real treasure to those living in this rural community. The Totus Tuus Summer camp offered for children 1st-12th grade gives kids a fun and faith based experience during the summer months. Parish groups cater to a variety of parishioners at St. Thomas the Apostle Parish from the Catholic Youth Organization, to Quilters, Knights of Columbus, a Prayer Line, St. Ann's Sodality, and even a bowling alley. The annual parish picnic is a favorite social event for locals and even residents of the surrounding counties.

The church property is also home to the town's first school which was built in 1874. In 1903, a new two-story school was built where students were taught for the next 63 years by lay teachers; Precious Blood Sisters of Ruma, Illinois; Sisters of the Poor Handmaids of Jesus Christ; and School Sisters of Notre Dame. Starting in 1962, the school operated as a public school in the Cole R-II School District and then in 1989, it was re-established as a Catholic School. In 2006, the two- story school building was renovated and a new gym was constructed. Throughout the years this school has shaped the minds of many generations and is still providing a positive influence in students' lives today.

The City of St. Thomas has seen many businesses come and go throughout the years, but the anchor in the community has been the steadfastness of St. Thomas the Apostle Parish.

Mr. Speaker, I ask you to join me in congratulating St. Thomas the Apostle Parish on

their 150th Anniversary. This milestone is a great testament to the commitment this parish has shown to the Lord, their parishioners, and the entire community.

Mr. Speaker, I rise today to honor the Fulton Chapter No. 35, Order of the Eastern Star, on their 100th Anniversary.

On September 21, 1917 Chapter No. 35 was founded by first Worthy Matron Anna Christian and first Worthy Patron Howard B. Lang. While the chapter has roots in Fulton, the dedicated members live throughout Missouri and surrounding states. There were 22 original signers who saw the vision of what the Fulton Chapter No. 35 could become. These signers were: Lena Newkomm, Julia Ann Neal, Anna Christian, Charles H. Christian, Selena Loveng, Bertie Fay Jackson, J. Roy Jackson, Gertrude Clatterbuck, Edgar Clatterbuck, Norma Lang, Howard B. Lang, Gertrude M. Brown, Jella D. Brown, Doyle S. Brown, Lulu Beaven, Theodore Beaven, Marie Le Noir, William Meng, John R. Pratt, Harry H. McIntire, Alice Koontz, and Elmer L. Koontz. Currently, the Fulton Chapter No. 35 is 102 members strong.

The members of this Masonry organization are dedicated men and women who consistently represent the spirit of fraternal love and the desire to work together to benefit mankind. Their hard work and charity is constantly felt by the community and dearly appreciated by the many lives they have and continue to touch.

They have been active in many charitable causes to benefit the community: Callaway Relay 4 Life, MoChip, Cancer Research, and the Masonic Home to name a few. Since the foundation of the organization, the lessons shared at the meetings have remained scriptural, the purpose beneficent, and the teachings moral. This type of teaching is a nod to the founder of the Order of the Eastern Star, Dr. Robert Morris, who had the vision of using beautiful and inspiring Biblical examples which in turn would be the noble principles Eastern Star members are encouraged to emulate. With this vision, the environment within the Eastern Star organization is dedicated to charity, truth, and loving kindness.

I ask you to join me in honoring Fulton Chapter No. 35, Order of the Eastern Star on their 100th Anniversary.

Mr. Speaker, I rise today to honor Harper Chapel United Methodist Church in Osage Beach, Missouri. On Sunday, September 23, 2018, the congregation will be celebrating the church's 150th Anniversary. This historical accomplishment is even more impressive when considering Missouri was not quite 50 years a state when Harper Chapel UMC was established near the Grand Glaize and Osage Rivers.

In 1868, Mr. Thomas Ezard and Mr. Thomas Harper began a Methodist class that would set the groundwork for Harper Chapel UMC. During the years this class met in various homes and the local log school house. The Southern Methodist Bishop appointed the Circuit Riders who led the class. Then in 1880, the community welcomed their first ``regular preacher'', Tom Rodgers. A new era was ushered in on April 20, 1911 when Asa and Ethel Farmer and E.P. Wade generously donated one acre of land in trust to the Methodist Episcopal Church. This land is the present site of Harper Chapel UMC.

On January 12, 1912, the original church building was dedicated and to this day it is still used for weddings and other activities. Thanks to the handiwork of Charles Harper and Carl Knight, the original pulpit is still used in the original church. 87 years after the Methodist class started meeting, under the leadership of Reverend M.A. Thomas, a building program was started to build a parsonage, repair the current sanctuary, and begin plans for a new sanctuary. Due to the success of the building program on October 28, 1956 the new parsonage was dedicated, and on Easter Sunday, April 8, 1963 the new sanctuary was dedicated.

The positive impact on the parishioners and surrounding community has been steadfast throughout the years. Vacation Bible School began in 1945 and continues to improve the lives of children and families in the area to this day. The vision of Harper Chapel UMC to--``Intentionally Connect People with Christ and Each Other''--is an inspiration and will be a guiding light for future generations.

I ask you to join me in recognizing Harper Chapel United Methodist Church on their 150th Anniversary. This milestone is a great testament to the commitment this church has shown to the Lord, their parishioners, and the entire community.

Mr. Speaker, I thank Chairman Hensarling for his commitment to regulatory relief. We wouldn't be here today if it wasn't for his diligence and for the hard work of all of the great folks of the Financial Services Committee, on both sides of the aisle.

Mr. Speaker, in the wake of the financial crisis the American people needed regulatory relief that would lift the economy. Instead, Congress responded with a framework that increased the cost of financial products, restricted access to loans, and redistributed credit from the middle-income borrowers to the high-income borrowers. Today, too many consumers are left struggling to get the tools they need to achieve financial independence.

S. 2155 is a big step in the right direction. The majority of the provisions included in the bill come from bipartisan House-passed measures, several of which wer included in my CLEARR Act. Despite what rhetoric we might hear today, American borrowers are going to benefit from the relief that extends from this bill.

However, the conversation cannot end with S. 2155. While the provisions in this legislation are granting important relief, there is so much more to be done. The Financial Services Committee has marked up more than 100 bills this Congress, many of which have the support of the ranking member and deserve to be considered by our colleagues in the Senate.

We have to continue to rightsize regulation so that it is based not just on size or a single arbitrary factor, but on thoughtful analysis of an institution's business model and risk profile. Mr. Speaker, arbitrary figures don't necessarily guarantee a financial system.

Mr. Speaker, I thank, again, the chairman for his diligent work on this fine bill, and ask my colleagues to support S. 2155.

Mr. Speaker, I thank the chairman for his patience on this issue.

I want to start by thanking the Senator from Kansas, Mr. Moran, and, more specifically, also thank the gentleman from New York (Mr. Zeldin) for his hard work on the House companion legislation to S.J. Res. 57.

Let me give my colleagues a brief history of the situation we are discussing today.

Dodd-Frank, specifically, barred the Consumer Financial Protection Bureau from regulating all dealers. The Bureau did it anyway. In doing so, the CFPB didn't adhere to the Administrative Procedure Act, choosing instead to push this rule forward. They pushed it through based not on sound evidence or thoughtful methodology; rather, Bureau staff seem to have conducted the research backwards. They came up with the answer they wanted, and then they wrote the questions.

The simple truth of the matter is that the Bureau seized an opportunity to test congressional intent and expand its jurisdiction. Today, we are exercising not just our right, but our constitutional duty, to rescind the indirect auto guidance that is blatantly unprofessional and illegal.

And again, the CFPB--let me just reinforce this. CFPB does not have oversight of automobile transactions because Dodd-Frank specifically prohibited it, and they did it anyway.

My colleagues and I have stood on this floor time after time and warned of the dangers of this most powerful and completely unaccountable agency. Allowing the Bureau to move forward on such a rule would have been negligence on our part.

Unfortunately, this isn't the first time we have seen this play out, and it won't be the last. Across the financial regulatory spectrum, agencies have abused their authority, dodging congressional oversight by promulgating guidance that, in reality, acts as a rule. This has to end, Mr. Speaker.

I want to again extend my thanks to the gentleman from New York (Mr. Zeldin) for his constant efforts in holding this government accountable and commend the Senate for their action on this and ask my colleagues on both sides of the aisle to join us in advocating for a more responsible approach to guidance and rulemaking.

Mr. Speaker, I rise today to honor Mr. Jordan McGaughey on receiving the Milken Educator Award.

This award was established in 1987 by the Milken Family Foundation to attract, retain, and motivate the finest teaching talent to continue the good work of molding young minds. The Milken Educator Award has been hailed as the ``Oscars of Teaching'' and provides public recognition and financial rewards to those who have the honor of receiving the award.

Jordan earned his bachelor's degree in History in 2007 and his master's in Education in 2008 from Truman State University. He now teaches American government classes at Seckman High School in Imperial, Missouri where he has shown outstanding commitment to his students, fellow educators, and the community. His classes stress the importance of valuing diversity, debating hot topics, and using critical thinking to formulate a personal opinion. Students have the opportunity to become more involved in the legislative process when they write their legislators, and in one particular lesson, they develop, present, discuss, and vote on ``new'' constitutional amendments. Jordan's students consistently perform above district and state averages and many have gone on to careers in government and education.

To foster an enjoyable learning environment, Jordan uses numerous teaching styles. By rotating between cooperative learning activities, collaborative inquiry-based learning, and traditional lectures, he is able to engage and interact with students effectively. As a Google Certified Educator, he also incorporates Google Classroom, Socrative, and Kaboot technology into his lessons. These education tools create other avenues for students to learn skills that will positively impact their future career choices. In this age of social media, Jordan also utilizes live debates on Twitter to engage students during events like the State of the Union.

In addition to his successful career in the classroom, Jordan serves on the district's professional development team and on the American Government curriculum committee. He also mentors student teachers and serves as an instructional coach, giving future teachers the opportunity to learn from someone who is motivated, passionate, and driven. Lastly, Jordan serves the community even further as a member of the Missouri Council for Social Studies and the St. Louis Teacher Academy.

Mr. Speaker, I ask you to join me in recognizing Mr. Jordan McGaughey on this great honor.

Mr. Speaker, I rise in strong support of H.R. 4061. Among other important provisions, a key component of this bill is the creation of a new subsection K within Sec. 113 of the Dodd Frank Act. This section calls on FSOC to consider ``the imposition of prudential standards as opposed to other forms of regulation to mitigate the identified risks.'' I am confident that members of both parties in the House and the Senate share the common goal of avoiding future financial crises--our debates since the enactment of Dodd Frank have been around how best to achieve this overarching goal. That's why I believe that if we were considering language today calling on all financial regulators, both state and Federal, to meet on an ongoing basis, to compare notes and make recommendations on steps that each agency could take to achieve this goal, it would pass by unanimous consent.

Asset managers, insurers, and other financial intermediaries serve a critical role in helping our constituents manage the financial risks they will face throughout their lives and meet their financial needs and objectives. Managing assets, whether personal or as part of a retirement plan such as a 401(k), has increasingly become the responsibility of individuals who are well served by asset managers and the products they provide. And managing longevity and mortality risks are just two areas of expertise that insurers are uniquely situated to help. I think we would agree these essential products and services should be well regulated, but in an efficient manner that allows providers the room to innovate and serve their customers' needs

New subsection K of this bill is a charge for regulators to act, on an ongoing basis, to take the steps necessary to help companies operate in a safe and sound manner as the first line of defense against future economic stress. In other words, this bill encourages regulators to determine what activities are potentially risky, using, among other tools, the process set forth in section 120 of the Dodd Frank Act, and calls on the appropriate prudential regulator to ensure they appropriately address such activities on an ongoing basis. This approach makes eminent sense, can help prevent a future crisis, and I am pleased to support this provision and the entire legislation.

Mr. Speaker, I rise today to honor a constituent of mine, Coach Ann Luetkemeyer-Gulshen, on her induction into the Missouri Sports Hall of Fame on March 28, 2018.

The fall of 1975 was an important year for Coach Gulshen. As she entered her senior year of high school in Eldon, she had the opportunity to play on the inaugural volleyball team, which would ultimately shape Coach Gulshen's entire future. After high school graduation in 1976, Coach Gulshen earned a bachelor's in physical education from the University of Missouri. A few years later into her career, she obtained her master's degree also from the University of Missouri. As the daughter of Vic and Jane Luetkemeyer, Coach Gulshen had been part of the Eldon community since her childhood. With strong ties to her community, it was a natural fit to come back to her hometown to begin her volleyball coaching career.

Coach Gulshen's record is an impressive one that includes 29 seasons as a high school volleyball coach, 16 of those seasons being at Eldon High School and 13 at Camdenton High School. During her coaching career, she won 704 matches which led to being among the top five most winningest teams in Missouri state history. Coach Gulshen built Eldon High School's volleyball program into a winner and guided the Mustangs to eight consecutive final fours in Class 3 between 1986 and 1993. In 1991, the Mustangs won the state championship. Under Coach Gulshen, Eldon High School won 16 conference titles and 15 district championships. In 1997, Coach Gulshen began teaching at Camdenton, and in 1998 she was asked to coach their volleyball team. From 1998 to 2010, the Lakers won three district championships and four conference championships.

Coach Gulshen set the teams up for success, pushing them to become teammates and not just individuals. She would encourage her teams to go on summer float trips, team camps, and any other team building activities. Throughout the years, she gained the respect of the players on her teams. Many of the players say Coach Gulshen helped prepare them for life's challenges and some of them have gone on to become coaches themselves. Coach Gulshen says: ``This (induction) is not about me. This is about them. All of them had a hand in it''. Throughout her coaching career, Coach Gulshen continuously had the support of her husband, Bart and sons Jay and Kyle.

Please join me in congratulating Coach Ann Gulshen for all of her hard work and dedication that resulted in this induction into the Missouri Sports Hall of Fame. This induction is well deserved.

Mr. Speaker, I rise today to honor the City of O'Fallon, Missouri for their newly opened Justice Center.

The Justice Center will allow for the police station and municipal court to better serve the O'Fallon community. When the O'Fallon city hall was originally built in 1999, it was expected to last nearly three decades. As the population of the City of O'Fallon grew, however, it became clear that a new complex was needed. This new center is expected to meet the needs of the Saint Louis metro's second largest city for decades to come.

At 80,000 square feet, the center will undoubtedly improve O'Fallon's legal system as it gives officers, investigators, and lawyers an excellent place to continue serving their community. For our law enforcement, it houses a state-of-the-art 911 communications center, an indoor firing range, and a training complex that allows law enforcement personnel to improve their marksmanship and decision-making ability. The Justice Center also includes an updated courtroom with ample space for viewing litigation and trial information. With this new courtroom and multiple holding cells, more dockets can be held and the court process will become even more efficient.

Please join me in congratulating the O'Fallon community on the new Justice Center and thanking the men and women who now work there for keeping our communities safe.

Mr. Speaker, the chairman can be assured that since my team was one and done, I will skip the bracket discussion here.

Mr. Speaker, I want to start by thanking the gentleman from Maine (Mr. Poliquin) for his work on this very reasonable legislation.

Stress tests are a good idea that should be standard practice in any company. What is not a good idea--and, quite frankly, not terribly helpful in promoting systemic financial stability--is the cryptic and arbitrary manner in which stress tests are handled today.

Today, the Federal Reserve imposes these stress tests on all financial firms with more than $10 billion in consolidated assets. This doesn't apply just to banks, despite the fact that the Fed is a bank regulator. This requirement to submit information extends to nonbank financial firms as well.

Mr. Speaker, let me take a moment to walk you through what one of these stress tests looks like. A financial firm is given cryptic instructions to run a number of scenarios to test the fortitude of the institution. That firm then submits tens of thousands of pages to the Fed. In some cases, that number can climb to more than 100,000 pages at a cost of millions of dollars.

Mr. Speaker, to give you an idea of what 20,000 pages is, in our committee hearing, we had a visual aid there with a table about this size right here in front of me today, about 3 feet tall, and boxes all around. That is 20,000 pages. Some of these stress tests, Mr. Speaker, are 100,000 pages, five times that amount, hundreds of thousands--if not millions--of dollars to do these stress tests; and, quite frankly, there is very little evidence that the Fed actually reads all the paperwork. In fact, one day you will probably get a call from the Fed, and they will tell you whether you passed or not. It is a very subjective test. There is no real explanation offered if a firm fails. The message is just to try again and keep trying until you finally pass the test and guess what the model is. This is not a productive exercise for anyone.

The truth of the matter is that the Fed has no business conducting and analyzing stress tests on nonbanks. Those firms have functional regulators, like the SEC and CFTC, which better understand the business models and performance of nonbanks and, as such, the risks those firms pose to the financial stability of the United States. The actual supervisor of these companies should be the only entity with the ability to require these sorts of activities, and Mr. Poliquin's bill allows for that.

Mr. Speaker, this legislation is about promoting thoughtful and effective legislation. It is about curtailing a one-size-fits-all--as the chairman mentioned earlier--approach to regulation, something Members from both sides of the aisle have claimed to support.

Mr. Speaker, I want to again thank the gentleman from Maine for his leadership on this issue, and I urge support of this legislation.

Mr. Speaker, I thank Chairman Hensarling for his tireless work in bringing this and so many other commonsense bills to the floor. I also want to thank the gentleman from Colorado (Mr. Tipton) for his commitment to this issue.

The lack of consistency and quality in the bank examination process has created serious problems for financial institutions and their customers. Mr. Tipton's legislation aims to remedy many of the issues we have heard about from the banks and credit unions in our congressional districts.

H.R. 4545 will allow financial institutions to have supervisory determinations reviewed by a newly established independent examination review board. This will create uniformity among regulatory agencies, while making the overall exam process fair and efficient.

The legislation includes several other key reforms, such as imposition of a reasonable time limit on examiners to provide exam results to institutions. It may seem like a simple request in the bill, a simple provision, but, today, institutions may wait as much as a year or more--in some cases, several years--to get the results of a single exam.

How can you be expected to comply with regulations if the regulators don't get back to you in a timely fashion with their feedback?

I myself spent several years as a bank examiner. The relationship between banker and examiner was a collegial one. Examiners would work with bankers to make sure they understood their rules and address the issues that manifested themselves during the course of the examination. If an institution failed to fix those issues, it then faced appropriate repercussions.

Today's exam environment is completely different. Financial regulators seem to play a constant game of ``gotcha.'' The only recourse for a financial institution is to turn to an appeals process that, quite frankly, has a predetermined outcome.

Mr. Speaker, something has to change.

To be clear, this bill does not prevent regulatory agencies from conducting exams or imposing restrictions on financial institutions. What it does is restore order to the exam process, which, for far too long, has been politicized and abused.

This is an incredibly important measure and one that I hope will receive support from all my colleagues.

Mr. Speaker, I thank the gentleman from Colorado for his work.