Shelley Capito

Mrs. CAPITO

Mrs. CAPITO. Mr. Speaker, I rise today to recognize the American Network of Community Options and Resources recipient of the 2014 Direct Support Professional of the Year for the state of West Virginia, Katherine McCormick. This decoration is truly an honor to receive, as it has been awarded annually for the past seven years to individuals in each state whom exemplify the values of the organization. The American Network of Community Options and Resources was founded in 1970 as a national association of seven-hundred private providers that help support more than a half million of Americans with disabilities in communities. On May 6, 2014 Katherine was recognized for her outstanding leadership which set her apart from her peers in supporting those with disabilities in all aspects of life. Without Katherine's commitment to enriching the lives of others, many West Virginians would be unable to function effectively in society. Mr. Speaker, the state of West Virginia owes Katherine McCormick and the men and women like her a debt of gratitude. I am honored to call Katherine a fellow West Virginian.

Mrs. CAPITO

Mrs. CAPITO. Mr. Speaker, I rise today to recognize the hard work of Varun Kukkillaya who has joined 280 other spellers to compete in the 2014 Scripps National Spelling Bee taking place in our nation's capitol. Varun is a 13- year-old seventh grader from John Adams Middle School, one of four, who will be representing West Virginia in this year's spelling bee. Varun has already performed exceptionally in the beginning testing round and I wish him the best of luck during the remaining preliminary rounds and throughout the rest of the competition. Varun enjoys a challenge and is an eager traveler. Through his persistence and determination he plans to pursue a career in medicine. This will be the 87th competition in the Scripps National Spelling Bee, which focuses on helping students improve their spelling, expand their vocabularies, and develop proper concepts as they continue to further their academic careers. Mr. Speaker, the State of West Virginia commends Varun for his extraordinary efforts and looks forward to watching his progress in the coming competition.

Mrs. CAPITO

Mrs. CAPITO. Mr. Speaker, I rise today to highlight the human trafficking legislation that was passed by the House yesterday. These five bills will ensure justice for millions of victims and further the fight to end this vicious crime. In the United States alone, human trafficking rakes in $9.8 billion for the use and abuse of victims, many of whom are children. The National Center for Missing and Exploited Children estimates that each year 100,000 children are falling victim to this vile industry within our own borders. Human trafficking isn't something that is occurring in other countries or other continents; it is happening here in America. I will be holding a summit later this week in West Virginia, in my district to bring together stakeholders to discuss how we can protect our most vulnerable. These bills are a call to action: to prosecute offenders, to protect victims, to prevent future cases, and to educate. By passing these important bills, the House stood up for those whose voices have been silenced and have said, ``No more.'' I urge the Senate to join us in passing these important bills.

Mrs. CAPITO

Mrs. CAPITO. Mr. Speaker, I want to thank the chairman and the ranking member for their hard work on this bill. As a member of the conference committee, I am in strong support of this report. Really, there are two numbers that come to mind for me in this report, and that is 9,900. That is 9,900 local jobs in West Virginia are supported by West Virginia waterways. The next number is $1.6 billion. That is how much the waterways industry contributes to our great State. So this is important that we do this efficiently, well maintained, that we can move our goods and services, particularly our West Virginia coal, down the rivers to power America. I am in strong support of this bill, and I again congratulate the chairman and ranking member for moving this forward.

Mrs. CAPITO

Mrs. CAPITO. Mr. Speaker, I rise today to recognize Cynthia K. Raffety, who on June 13, 2014 will step down from an exceptional career as a public school mathematics teacher, a profession in which she has been engaged over the past four decades. Born in Baltimore, MD on February 23, 1948, Cynthia is the daughter of Samuel and Ellen Kirby, an engraver and a nurse, respectively. She graduated from Eastern High School in 1966 and attended the University of Maryland, where she earned a BA in Education--Mathematics. In 1991, Cynthia obtained her Masters of Education from West Virginia Wesleyan College (WVWC). Upon graduation from the University of Maryland, Cynthia served as a public school teacher in Prince George's Co., MD, and Glouster Co., NJ. After a stint as a stay-at-home mom in the mid-70s to raise her two children, Jennifer and Robert, Cynthia returned to teaching in Fairfax Co., VA in 1980, and has been active in the classroom ever since. Cynthia's most notable contributions as an educator took place in the Upshur County (WV) Public School System. From 1983 to 1990, Cynthia taught 8th Grade Math at the Buckhannon-Upshur Middle School as a member of Team H. She then transitioned to the Buckhannon-Upshur High School, where from 1990 onward Cynthia instructed a wide range of math courses, including: Algebra I, Algebra II, Geometry, Trigonometry, Pre- Calculus, and Dual Credit College Algebra and College Trigonometry. Along the way, in 1991, Cynthia picked up her Masters of Education from West Virginia Wesleyan College (WVWC). Outside of her duties as a public school teacher, Cynthia also serves as an Adjunct Professor of Mathematics Education at WVWC and Fairmont State University. She also served as Program Director for WVWC's Summer Institute, as well as lead instructor of SAT Math Prep. Cynthia routinely opens her high school classroom to undergraduate and graduate student teachers, as well as students engaged in clinical education research in Science, Technology, Engineering, and Math (STEM) education. In addition to her excellence as a math educator, Cynthia also graciously volunteers her time as the faculty advisor to several school organizations, including the alcohol, smoking, and drug-awareness activities of Teen Institute/RAZEWV, and the civic and volunteer undertakings of Interact (Youth Rotary). In all of her cherished duties--wife, mother, teacher, mentor, advisor, role-model, and civic leader--Cynthia has displayed unparalleled spirit, drive, and devotion. I am, therefore, honored and pleased to have this opportunity to call to the attention of my colleagues the extraordinary accomplishments of Cynthia K. Raffety. I admire Cynthia's idealism and life-long commitment to her community, and I join her family, friends, neighbors, and colleagues in thanking Cynthia for her life of service.

Mrs. CAPITO

Mrs. CAPITO. Madam Speaker, I have no further speakers. I am prepared to close if the gentlewoman from California is also prepared.

Mrs. CAPITO. Madam Speaker, I would like to thank the sponsors of the bill. We have done a great job of working together as two State colleagues. I urge support of this bill as well. I yield back the balance of my time.

Mrs. CAPITO. Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks and to submit extraneous material on H.R. 4386, the bill currently under consideration.

Mrs. CAPITO. Madam Speaker, I yield myself such time as I may consume. I would like to thank Mr. Ellison and Mr. Paulsen from the Financial Services Committee for drafting the legislation before us today. I know that many of their constituents rely on money transfer services--as many do across this country--to remit money to family members living abroad. One of the current challenges facing the money service business and the regulatory agencies that enforce the law is a lack of information- sharing between the State and Federal entities. The end result is these entities are examined for compliance both at the State and Federal level. H.R. 4386 seeks to reduce the compliance burden for these businesses by allowing for greater information sharing between State and Federal agencies. This legislation will make it easier for consumers seeking money transfers to access these services. I commend the authors of this legislation for identifying the duplication between State and Federal compliance and putting forth a proposal to streamline the regulatory framework for these businesses. Consumers will have greater access to the financial services they need and want, while at the same time making it easier for these businesses--and the financial institutions they partner with--to make sure they are in compliance with the law. I urge adoption of this bipartisan legislation. I reserve the balance of my time.

Mrs. CAPITO. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 4386) to allow the Secretary of the Treasury to rely on State examinations for certain financial institutions, and for other purposes.

Mrs. CAPITO. Madam Speaker, I would like to reserve the balance of my time. I have no further speakers.

Mrs. CAPITO

Mrs. CAPITO. Madam Speaker, I yield myself such time as I may consume. Madam Speaker, I would like to thank Mr. Luetkemeyer and Mr. Murphy of Florida for drafting the legislation before us this afternoon and for working together on the Financial Services Committee. H.R. 3329 provides targeted regulatory relief for small bank holding companies. Under the current regulatory framework, the Federal Reserve's rules sometimes make it difficult for small banks to make acquisitions. This is because the acquiring institution often uses debt financing to make the acquisition. Recognizing that many small institutions rely on debt financing for an institution, the Federal Reserve requires policy statements to ensure the debt is managed properly and subsidiary banks are well capitalized. The legislation before us today makes it easier to form new holding companies, fund existing holding companies and make acquisitions by issuing debt at the holding company level by raising the threshold from $500 million in consolidated assets to $1 billion in consolidated assets. I commend the authors of this bill for their hard work on this bipartisan legislation which passed the committee by voice vote last November. This is about creating jobs, getting credit across the country for consumers and for small business owners. I urge adoption of the bill and reserve the balance of my time.

Mrs. CAPITO. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 3329) to enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

Mrs. CAPITO

Mrs. CAPITO. Madam Speaker, I have no further speakers, and I reserve the balance of my time to close.

Mrs. CAPITO. Madam Speaker, I yield myself the balance of my time. I echo the comments of the ranking member, and I thank her for her help on this bill. I thank Mr. Hinojosa and Mr. Barr for their good, hard work. As I said earlier in my opening statement, rural America does have a different way of trying to access credit and to make sure that homeownership becomes the reality that many of us hope for our families. I would like to congratulate the sponsors, and I urge passage of the bill. I yield back the balance of my time.

Mrs. CAPITO. Madam Speaker, I yield myself such time as I may consume. Madam Speaker, the legislation before us this afternoon makes an important improvement to the Consumer Financial Protection Bureau's qualified mortgage rule that went into effect this past January. Under the Bureau's proposed rule, a community bank or credit union operating in a rural community would be afforded some flexibility to underwrite mortgages that otherwise would not be deemed a qualified mortgage. These products, sometimes referred to as balloon loans, are a critical source of mortgage credit in rural and agricultural communities. Although the Bureau has recognized the importance of this type of credit in rural communities, the definition that they used for a rural community will result in fewer mortgage options for consumers in rural communities. The Bureau relied on the U.S. Department of Agriculture's Urban Influence Codes to define a rural community. Under this definition, half of the counties in the State of West Virginia are considered urban. Well, I think those of us who have driven through West Virginia would find that hard to believe. According to the Bureau, Clay County, West Virginia, which has a population density of 30 people per square mile, is urban. Similarly, neighboring Calhoun County, which has a population density of 27 people per square mile, is also deemed urban by the Bureau. These examples demonstrate a complete lack of understanding of rural America. Mr. Barr's legislation sets up a process by which a community can petition the Bureau to be reclassified as rural. This commonsense approach strikes an appropriate balance that will allow consumers in rural areas to continue to have access to mortgage credit. I commend Mr. Barr of Kentucky for authoring this legislation and deftly navigating it through the House Financial Services Committee, where it passed 55-1. I urge my colleagues to support this critical piece of legislation. Obviously, it will have a great impact on rural America, which is where I live and where many of us do, too. I reserve the balance of my time.

Mrs. CAPITO. Madam Speaker, I now would like to yield as much time as he may consume to the gentleman from Kentucky, Congressman Barr, the author and sponsor of this legislation.

Mrs. CAPITO. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 2672) to provide for an application process for interested parties to apply for a county to be designated as a rural area, and for other purposes, as amended.

Mrs. CAPITO. Madam Speaker, I ask unanimous consent that all Members have 5 legislative days within which to revise and extend their remarks and submit extraneous materials for the Record on H.R. 2672, as amended, currently under consideration.

Mrs. CAPITO

Mrs. CAPITO. Madam Speaker, I would now like to yield such time as he may consume to the gentleman from Ohio (Mr. Stivers), the author of this bill.

Mrs. CAPITO. Madam Speaker, I have no further speakers. I am prepared to close, so if the gentlelady would like to close, then I will follow.

Mrs. CAPITO. Madam Speaker, I yield myself such time as I may consume. I would like to thank the gentleman from Ohio (Mr. Stivers) and the gentlewoman from Ohio (Mrs. Beatty) for their efforts in drafting the legislation before us this afternoon. The Capital Access for Small Community Financial Institutions Act is bipartisan legislation that passed the House Financial Services Committee by a vote of 55-0 earlier this spring. This bill will provide meaningful regulatory relief for privately insured credit unions by allowing them to become members of the Federal Home Loan Bank system. There are approximately 130 privately insured credit unions, with nearly $13 billion in assets in nine States across the country. These credit unions currently cannot join the Federal Home Loan Bank system, which provides an additional source of mortgage funding for its members. Allowing privately insured credit unions to join the Federal Home Loan Bank system will allow these credit unions to increase the availability of mortgage credit in the communities that they serve. I commend the office for identifying this inequity and putting forth this legislation. This issue is not new. Similar provisions were included in the previous regulatory relief measures that passed the House with overwhelming support. I urge my colleagues to support this legislation, and I reserve the balance of my time.

Mrs. CAPITO. I want to thank both the sponsors, as well, and the committee chair and Ms. Waters for her work on this bill. I echo her sentiments. I would like to urge support and yield back the balance of my time.

Mrs. CAPITO. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 3584) to amend the Federal Home Loan Bank Act to authorize privately insured credit unions to become members of a Federal home loan bank, and for other purposes, as amended.

Mrs. CAPITO. Madam Speaker, I ask unanimous consent that all Members have 5 legislative days within which to revise and extend their remarks and submit extraneous materials for the Record on H.R. 3584, as amended, currently under consideration.