J. Hill

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today to honor one of Arkansas' finest sons, Dr. Milton Pitts Crenchaw, who passed away on November 17, 2015, at the age of 96. Born in Little Rock, Arkansas, Dr. Crenchaw became known as the ``father of Black aviation in Arkansas.'' Dr. Crenchaw was one of the original supervising squadron commanders providing training and instruction under the Civilian Pilot Training Program for the Tuskegee Airmen during World War II. Dr. Crenchaw served his country for more than 40 years of Federal service with the U.S. Army Air Corps and the U.S. Air Force. Later in life, Dr. Crenchaw's advocacy on the part of veterans and his fellow Tuskegee Airmen was relentless. In 2007, Dr. Crenchaw, along with the other members of the Tuskegee Airmen, were awarded the Congressional Gold Medal. His courageous service and sacrifice to his country is an example all Americans and Arkansans can admire and will remember Dr. Crenchaw forever.

Mr. HILL

Mr. HILL. Mr. Chairman, I rise today in support of my colleague from New Hampshire on his bipartisan bill to reform and assist our Nation's auto dealers and consumers and increase the oversight and transparency of the Consumer Financial Protection Bureau. Dodd-Frank explicitly prohibited the CFPB from regulating auto dealers, but their guidance on indirect auto lending is an end around to indeed do just that, regulate auto dealer sales. Not only is the CFPB's guidance inherently flawed, but the agency has not provided the opportunity for public comment or input, nor have they shared any of their analysis or assumptions on which they based their model. This guidance is another example of emerging government price regulation and fee setting in the financial services industry. We have always, as a part of our financial regulation, tried not to set price by regulatory directive. Instead, we have operated on a consumer disclosure and consumer education model. But price regulation is clearly what this guidance does. It is softer and more delicate in its language, but it clearly is leading towards price regulation. Consumer lending in banking is down among community banks. It has been cut in half over the past few years. One reason for that, one key reason for that, is the inability of a consumer bank to price for risk. Today's legislation is not about discrimination. It is about giving access to credit to people who need it and giving access to credit to them in the right way, particularly those families with limited resources. This bill in no way ties CFPB's hands. It merely gives the public an opportunity to comment on the Bureau's attempt to reshape the auto loan market. Whether it is in a rural area or an urban area, this pernicious expansion of price regulation in financial services by the Federal Government will have a negative effect on credit allocation in our communities. Mr. Chairman, I include in the Record a letter from the Independent Community Bankers of America. Independent Community Bankers of America, Washington, DC, July 27, 2015. Hon. Jeb Hensarling, Chairman, Committee on Financial Services, House of Representatives, Washington, DC. Hon. Maxine Waters, Ranking Member, Committee on Financial Services, House of Representatives, Washington, DC. Dear Chairman Hensarling and Ranking Member Waters: On behalf of the more than 6,000 community banks represented by ICBA, I write to thank you for scheduling a markup for July 28 on important regulatory reform bills. We are particularly pleased that a number of the bills scheduled for markup reflect community bank regulatory relief advanced in ICBA's Plan for Prosperity. We strongly encourage all committee members to vote YES on the bills noted below: The Financial Institution Customer Protection Act (H.R. 766). Sponsored by Rep. Blaine Luetkemeyer, H.R. 766 is designed to curtail the abuses of Operation Choke Point. The bill would prohibit the federal banking agencies from suggesting, requesting, or ordering a bank to terminate a customer relationship unless the regulator put the order in writing and specified a material reason for the action, among other provisions. The Portfolio Lending and Mortgage Access Act (H.R. 1210). Sponsored by Rep. Andy Barr, H.R. 1210 would provide that any residential mortgage held in portfolio by the originator is a ``qualified mortgage'' for the purposes of the Consumer Financial Protection Bureau's ``ability to repay'' rule. H.R. 1210 will help preserve access to credit for customers of community banks and other lenders. The Small Bank Exam Cycle Reform Act of 2015 (H.R. 1553). Sponsored by Rep. Scott Tipton, H.R. 1553 would allow a highly rated community bank with assets of less than $1 billion to use an 18 month exam cycle. ICBA supports a 24 month exam cycle for highly rated community banks. Because examiners have more than sufficient information to monitor a community bank from offsite, we believe that this change would not compromise supervision, and would actually increase safety and soundness by allowing examiners to focus their limited resources on the true sources of risk. The Reforming CFPB Indirect Auto Financing Guidance Act (H.R. 1737). Sponsored by Rep. Frank Guinta, H.R. 1737 would effectively nullify the CFPB's guidance on indirect auto lending. In proposing and issuing guidance primarily related to indirect auto financing, the CFPB would be required to provide for a public notice and comment period, make available all studies, data, and other information on which the guidance is based, and meet other requirements intended to ensure the process is open, transparent, and responsive to public input. The CFPB would also be required to consult with the Board of Governors of the Federal Reserve System, the Federal Trade Commission, and the Department of Justice. ICBA suggests strengthening H.R. 1737 by requiring the CFPB to also consult with the Federal banking regulators, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency. Financial Institutions Examination Fairness and Reform Act (H.R. 1941). Sponsored by Reps. Lynn Westmoreland and Carolyn Maloney, H.R. 1941 would go a long way toward improving the oppressive examination environment that many community banks experience during and following an economic downturn. Among other other provisions, H.R. 1941 would create an Office of Independent Examination Review within the Federal Financial Institutions Examination Council and give financial institutions a right to an expedited, independent review of an adverse examination determination before the Office's Director or before an independent administrative law judge. ICBA also supports the provisions of H.R. 1941 that would create more consistent and commonsense criteria for loan classifications and capital determinations. Establishing conservative, bright-line criteria will allow lenders to modify loans, as appropriate, without fear of being penalized. If these standards become law, they will give bankers the flexibility to work with struggling but viable borrowers and help them maintain the capital they need to support their communities. The Homebuyers Assistance Act (H.R. 3192). Sponsored by Rep. French Hill, H.R. 3192 would provide a critical safe harbor from enforcement actions for compliance errors arising from the implementation of the Consumer Financial Protection Bureau's Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosures, provided the lender has acted in good faith to implement and comply with new regulations. Without this safe harbor, consumer mortgage closings are likely to be delayed due to the enormous complexity of the new rules and fear of excessive enforcement actions for minor errors. Taken together, the bills noted above would provide significant regulatory relief for community banks to the benefit of the customers and communities they serve. We will continue to press lawmakers to enact these sensible regulatory relief measures into law. Thank you again for bringing these bills before the committee. Sincerely, Camden R. Fine, President & CEO.

Mr. HILL

Mr. HILL. I thank the chairman. Mr. Speaker, I rise in support of H.R. 1210, the Portfolio Lending and Mortgage Access bill, designed by my good friend from Kentucky. We have seen in Arkansas loan approval rates decline significantly since the QM rules were put in place. One bank noted a 40 percent decline in eligible borrowers. Today, I just want to tell a story. A community banker in my district called this week and said that he has a customer that from time to time just needs catch-up money, money to catch up on bills, medical expenses, or to help out her kids. But her credit score is in the low range of acceptable, and therefore, she doesn't qualify for unsecured credit, and therefore, she uses the equity in her house. She has been doing it for years and paid back those lines over and over again with no problems. Now she has to go through the ability-to-repay process, which is long and arduous and, unfortunately for her, leading to mistrust between a long-term client and her hometown bank. As a former chairman, CEO, and president of a community bank in Arkansas, I can assure you that members of our boards of directors across this country scrutinize all portfolio loans, both those that are sold and those kept on the books. But there is no better incentive than to have good underwriting and to ensure the customer has the ability to repay the loan held on the balance sheet of one of our financial institutions. That is what we are talking about here today. Community institutions know best how to serve their communities and their clients--not Washington. Mr. Speaker, I urge my colleagues to support this commonsense bill.

Mr. HILL

Mr. HILL. I thank the chairman and appreciate his work on bringing this important bill to the floor, and I thank my friend, Chairman Royce, from California, for sponsoring the House version of this measure, H.R. 2243, and I stand in full support with the Senate version tonight, S. 2036. Mr. Speaker, since being placed in voluntary conservatorship, the Federal Housing Finance Agency, in my judgment, has really abdicated their responsibility with the Treasury in acting truly as a conservator. Fannie Mae and Freddie Mac have received almost $200 billion in government assistance, by far our costliest taxpayer bailout resulting from the financial crisis. This is also not the first time that the GSEs, the government- sponsored enterprises, were placed in conservatorship and that the FHFA has been scrutinized for awarding increased pay to the CEOs. That has been previously discussed in detail here. And largely in response to that criticism of FHFA's failure to properly administer these entities in conservatorship, the GSE's CEO compensation was capped in 2012 at $600,000. Now, miraculously, they are being approved for millions in pay increases despite the fact that these entities are still, Mr. Speaker, in conservatorship. It is for that reason, Mr. Speaker, on July 30 that I wrote Mel Watt, the Director of the Federal Housing Finance Agency, and awarded him my monthly Golden Fleece Award for poor stewardship of taxpayer resources. I include my letter to Mr. Watt in the Record. July 30, 2015. Hon. Mel Watt, Director, Federal Housing Finance Agency, Washington, DC. Dear Director Watt: I write today to inform you of my recent Golden Fleece Award to the Federal Housing Finance Agency (FHFA) for its approval of approximately $4 million in raises for each of the CEOs of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Since being placed in voluntary conservatorship by FHFA in 2008, Fannie Mae and Freddie Mac have received almost $200 billion in government assistance, by far the costliest taxpayer bailout resulting from the financial crisis. This is also not the first time since the GSEs were placed in conservatorship that FHFA has been scrutinized for awarding increased pay to their CEOs. In 2009, FHFA approved $42 million in pay packages to the GSEs' top 12 executives. In 2011, FHFA approved $12.79 million in bonus pay for some of the top executives at Fannie and Freddie. Largely in response to this criticism, the GSEs' CEO compensation was capped in 2012 at $600,000. Both the U.S. Treasury Department and the White House have also opposed FHFA's decision to raise Fannie and Freddie CEOs' salaries. Specifically, Treasury recommended that ``existing limits on compensation continue given the taxpayers' ongoing backstop of both enterprises,'' while White House Press Secretary Josh Earnest stated that ``the reason that these entities are different than some of the financial entities that you see in the private sector is they benefit significantly from a backstop that's provided by that taxpayers. And because of that taxpayer assistance, I think it is entirely legitimate for the executives of those institutions to be subject to compensation limits.'' Additionally, Treasury Secretary Jack Lew stated in his June 17, 2015 testimony before the House Financial Services Committee that ``the risk is being borne by taxpayers on an ongoing basis and the conservatorship is not over.'' Despite this opposition, FHFA has once again raised these salaries to $4 million. While the recovery of the housing market has helped Fannie and Freddie repay the federal government, and I fully support the private sector compensating its executives as it sees fit, Fannie and Freddie still have taxpayer backing, are not private companies, and should not be compensated as such. While Congress still must work to enact necessary reforms to our GSEs, FHFA must be accountable and responsible for ensuring the protection of our hardworking taxpayers' dollars. I am committed to eradicating this type of inefficient and ineffective policy and regulation by our federal agencies, and today's Golden Fleece highlights the clear lack of judgement by FHFA in approving these raises. I invite your immediate attention to this issue, and please keep me apprised of your efforts at improvement. Sincerely, French Hill, Member of Congress.

Mr. HILL. Treasury Secretary Jack Lew has given his opposition, the White House has provided a statement of opposition, and yet Mel Watt continues. It is for these reasons that I fully support the effort of Mr. Royce and Mr. Vitter in capping the compensation until these entities are returned to financial health.

Mr. HILL

Mr. HILL. Mr. Speaker, I stand in the well of the House witnessed by the portraits of George Washington and his protege, an invaluable ally to America, the Marquis de Lafayette. On Friday, November 13, the world watched in horror as they witnessed the terrorist attacks in Paris that claimed the lives of 129 civilians from over 15 different countries. These brothers and sisters, mothers and fathers, friends and loved ones, whose lives were taken away too soon from us and those who were gravely wounded from this attack will not be forgotten. My thoughts and prayers are with the victims, their families and friends, and the strong resilient people of France. This massacre at the hands of barbarous terrorists was an attack on the civilized world, and we will not let these horrific actions stand. We stand strong. Today the flags at the U.S. Capitol fly at half-staff. We stand in solidarity with France, honor the victims of this attack, and in the call to combat this massing menace, place our undying faith in our two democracies bound together by young Lafayette's faithful and courageous service.

Mr. HILL

Mr. HILL. Mr. Speaker, in a chamber where we have no shortage of hyperbole and sanctimony, certainly this bill is no exception as I listen to the opposition. Today I rise in strong support of H.R. 1090, the Retail Investor Protection Act. I want to thank Representative Wagner for her leadership and the chairman for this time. We are down to the bottom of the barrel if we are quoting NPR as a source of economic research. There is no credible research that justifies what the Department of Labor is doing. Having worked in this industry for three decades, I can speak to this on a very personal basis. Instead of working in harmony and complying with Dodd-Frank, the DOL is preempting the SEC and the FINRA and moving ahead with its own agenda. As we have said today, there is broad consensus that financial advisers should act in the best interest of their customers, and they do. Any bad actors should be punished. There are existing rules and requirements for broker-dealers and investment managers to deal fairly and provide recommendations that are suitable for their customers and disclose conflicts of interest. We have left the appearance in this room hanging that prices are skewed. In fact, most retail investment products are sold by a prospectus with fixed prices that are fully disclosed to retail investors. We have heard today that this reproposal is an improvement over previous efforts by the Department of Labor. In fact, that is not true, Mr. Speaker. This pending rule is not an improvement. It turns its back on best practices of new account openings and includes a dispute resolution that turns its back on dispute resolution practices in the industry that will increase litigation and hurt retail investors and brokers alike. Representative Scott of Georgia calls this proposal a straightjacket for modest investors. I could not summarize it better. I urge my colleagues to join me in supporting H.R. 1090 and protecting sound retirement advice for retail investors.

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today to honor the men and women of Little Rock Air Force Base and the surrounding communities for their 60 years of dedicated service and sacrifice to the defense of our Nation. In its long history, it has had many important missions, including reconnaissance and bombing missions, and it is now known as the C-130 capital of the world. Little Rock Air Force Base is one of the most technologically advanced and well-run military installations in the entire country. It is the tactical airlift ``Center of Excellence.'' The base builds the foundation of America's combat airlift capability and trains the world's best airlifters to ``fly, fight, and win.'' From providing lifesaving humanitarian aid to the Yazidis in Sinjar to delivering our men and women and their supplies, Little Rock Air Force Base defends freedom.

Mr. HILL

Mr. HILL. Mr. Chairman, I rise in support of this commonsense bill, which has been a long time in coming. I want to thank Mr. Conaway for his leadership in bringing it to the floor tomorrow, and the process the committee used, which was a series of hearings through the process, supported by our chairman, supported by members on both sides of the aisle. I want to thank Joe Barton and Mr. Cuellar of Texas for their leadership in recruiting cosponsors, a large bipartisan group of cosponsors, to bring this longstanding bill to the floor and the positive efforts it will have on our economy. I would like to say to my friend, Mr. Sessions--and I invite him to come to Little Rock--that I filled up last week for $1.82. So, perhaps Arkansas is a more competitive gas pricing market than even Texas. That may be the biggest economic news of the day here on the floor. We have touched on the importance of American jobs. All of our American jobs in the oil patch right now are suffering due to low prices and low development budgets. I don't have any doubt that when reserves are revalued September 30 for our publicly traded companies, their oil and gas exploration lines of credit will be down because of pricing in the U.S.; and, therefore, this is a boost for the economic opportunity for jobs in the United States in development. I want to touch on the national security aspects of this bill that I think are so important, Mr. Speaker. Early in the year, this House passed ways to improve liquefied natural gas to be developed and shipped overseas to international markets. We have an abundant amount of natural gas in this country. We are now the world's leading producer, and we have the opportunity to provide natural gas in liquefied form around the world to our allies in Asia and Europe. Likewise, eliminating the ban on crude oil, long outgrown by North American production and our economic success, will allow us to now, from a national security point of view, to have liquefied natural gas and crude oil as export potential and as economic job potential for the U.S. But more importantly, to our NATO allies and to our Asian allies, we offer them North American gas and crude oil as an alternative to the Mid East and, most importantly, Europe to Russia. For too long, our allies in Europe have been held hostage by the politics of the Mid East or the politics of Russia. This allows us to be a much better not only economic partner, but national security partner with our allies in Europe and our allies in Asia. I want to thank you, Mr. Chairman, for the opportunity to come to the floor and speak in strong support of this bill to remove the export ban on crude oil in the United States. I urge my fellow Members, both Democrat and Republican, to provide a good, strong, bipartisan vote and send that message to the United States Senate to join us in passing this lifting of the ban, and to send a message to White House, Mr. Chairman, that a veto message here is not appropriate. I invite the President and the OMB and the Department of Energy to reconsider that, in fact, this is a national security benefit to the United States and a jobs and economic benefit to the United States, and it is not the kind of thing that our President should issue a veto threat on.

Mr. HILL

Mr. HILL. Mr. Speaker, I thank the chairman for yielding me some time on this important measure. Mr. Speaker, I rise today in support of H.R. 3192, the Homebuyers Assistance Act, this commonsense, bipartisan bill which will provide certainty for the short transition period for the real estate industry, preventing costly market disruptions and delays for American homebuyers. I thank Mr. Sherman for his help in design and leadership. I also thank my friends, Mr. Vargas and Mr. Pearce, who worked on this bill as well. This straightforward measure will provide a temporary hold harmless period from enforcement action and litigation during the initial implementation of this new TILA-RESPA Integrated Disclosure form. This rule, by the way, became effective this past Saturday. Companies out in the real world are trying to get this closing regime right and have spent billions of dollars in updating their systems and hundreds of man-hours training employees to comply with this 1,800-page rule. Again, I remind my colleagues that, at the height of the Depression, in rewriting all of America's banking laws, the Banking Act of 1933 consumed only 37 pages. There is no opportunity to test. This is a bright-line rule that just turns on. You have to have new forms and new, substantive changes, and these compliance challenges are many. This temporary grace period will allow the industry to work with the CFPB to ensure a smooth transition. As previously noted, 300 bipartisan Members have urged this grace period, including the ranking member. We are here today by the inadequate response of the CFPB to a lot of concerns across our Nation, from Realtors, mortgage lenders, title companies, people in the appraisal business. Mr. Cordray could have provided this certainty, just like HUD did for the revised RESPA disclosures back in 2010. But statements from Mr. Cordray like the industry can ``read between the lines'' doesn't constitute certainty in the real world. It might here in the Beltway. But as a Member of Congress who until the end of 2014 was CEO of a community bank, I can assure you that kind of ``read between the lines'' certainty doesn't work in the real world. A recent survey by the American Bankers Association indicated over 40 percent of institutions have not yet received compliance software needed to implement TRID. It is very frustrating to Members on both sides of the aisle, particularly after the number of years that we have talked about a new TRID form. But, nonetheless, it is a fact. Ninety percent of institutions were still testing the incorporation into their lending platforms. I can tell you this is more complicated than it looks to someone who is a bureaucrat in Washington. You have got a loan operating system and a loan doc prep system typically from two different vendors. Both require software changes. Three-quarters of those surveyed in the mortgage banking industry said they needed an additional 3 weeks to 4 months for additional debugging and testing. So this commonsense bill will allow them to perform that task, not disrupt closings, and allow people to have a safe harbor from potential litigation or enforcement penalties. One bank in Arkansas called me Monday, 2 days after TRID went live, to say they are still not expected to get the final fix from their software providers until Thanksgiving. In addition to these kinds of operating implementation issues, many are still out there waiting for clarification from the CFPB on certain issues. The chairman mentioned one-time close. One of the most popular products in banking today, particularly among community banks, is a construction-to-permanent mortgage closing, where one can build their home and go to a permanent loan closing all with one application and one set of forms and a single closing. But because of confusion over how to properly disclose information under the new TRID form, I think this is a problem. Several banks, as noted, are going to cease one-time construction-to-permanent loan making, again, one of the most popular products in community banking. I want to emphasize that this temporary protection only applies to those making a good faith effort to comply to this very complex rule. It in no way alters the underlying rule. While I disagree with much of Dodd-Frank, I support the general purpose of this rule, which is to attempt to streamline and simplify mortgage disclosures for consumers, albeit, comparing the forms side by side, I don't know if that was accomplished or not. But it is absolutely a worthy objective.

Mr. HILL. Our title companies, bankers, and others in the industry who are earnestly trying to comply with these new TRID rules need to have the confidence and certainty that they can go into this closing regime giving excellent customer service, and not be looking over their shoulder for an inadvertent penalty or civil litigation. Mr. Speaker, we are pro-consumer. 400,000 consumers buy a home every month in this country, and over 230,000 consumers refinance a mortgage. All will be positively impacted by this temporary measure. I urge its consideration.

Mr. HILL

Mr. HILL. He is obligated to adjudicate these claims and seek restitution for these victims under the Federal Sovereign Immunities Act. President Bush did his duty. When he had leverage over Libya, he got the claims paid for the victims of terror in Libya. For every day we come to work in this House and we ask, ``What can we do to help this country? How can we right a wrong?'' today is that day. I urge my colleagues on both sides of the aisle to support Mr. Meehan's outstanding bill. Let's right the wrong. Let's adjudicate these claims. Let's get this money back for the victims of terrorism.

Mr. HILL. I thank Mr. Meehan for his leadership on this, and I thank the ranking member and the chairman for their opposition to the Iranian agreement, which I believe was ill-conceived and not enough time given for those negotiations to bear true fruit. In fact, that is the whole point of our debate today. The maximum amount of negotiating clout that the United States had over these sanctions was during these negotiations, before we released sanctions, before Iran gets access to their monthly oil flow and their $100 billion. We have $44 billion and 85 judgments. The number of intelligence agents that have worked day and night to adjudicate these claims in court, the number of FBI agents involved, the Federal Government's obligation to generate awards for these victims, and yet this administration has never raised it in public in regard to the Iranian agreement. Under the 1996 and 2008 Federal Sovereign Immunities Act, the President of the United States is obligated to seek resolution for these claims.

Mr. HILL

Mr. HILL. Mr. Speaker, next week, the Holy Father, Pope Francis, will make his historic trip to the United States. I ask that all Americans join me in welcoming the Holy Father, both as Pope and as a man. This is Pope Francis' first visit to the United States ever and will be the first time in history that a pope will address a joint session of the Congress. The Pope's message to fight against complacency and corruption and to help those in poor communities have resonated with the American people and invigorated Catholic communities throughout our country. I am eager for the Pope to see the United States of America, her people at work and play, and I look forward to his visit and his words of inspiration to the people's House where the government for and by the people is practiced daily.

Mr. HILL

Mr. HILL. Mr. Speaker, from the beginning of his life, Richard ``Dick'' Bass was a force to be reckoned with. He always strove to be the first and best at whatever he did--whether as a student, oilman, rancher, ski resort developer, or mountaineer. As a young man of sixteen, he enrolled in Yale University, graduating with a B.S. in Geology at the age of twenty. The gregarious spirit and boundless curiosity that prompted him to climb one of Europe's highest peaks, the Matterhorn, at nineteen, would continue to be both servant and driver throughout his life. Shortly after moving back to Texas to join the family oil business, Dick began taking regular trips to Colorado to ski. His love for skiing and his fellow outdoor enthusiasts motivated him to seek out involvement in the industry. Shortly after starting these trips, he and his brother purchased stock in a small underdeveloped area in Eagle County, Colorado, that became the globally famous Town of Vail. The success and increased public interest in Vail led to his co-ownership and development of the Snowbird ski resort in Utah. He and his Snowbird partner, Ted Johnson, traveled across Europe searching for inspiration and innovation to bring their vision to life. His pioneering spirit was not limited to investments and skiing and hearken back to his younger self's interest in mountain climbing. He was determined to become the first man to conquer the Seven Summits, the highest mountains in each of the continents, and achieved this monumental undertaking on April 30, 1985. Throughout his life, his mindset was always that of ceaseless perseverance, as exemplified by his three attempts and final summit of Mt. Everest. Dick Bass may have passed on to his newest adventure at the age of eighty-five, but his entire life serves as a testament to the power of determination and enterprise. Dick was larger than life, actively living every second to the fullest and taking on any challenge thrown at him. He left a truly indelible mark on the world, his wife, Alice, his children Dan Bass, Bonnie Smith, Barbara Moroney, Jim Bass, and his thirteen grandchildren. I was proud to count Dick Bass as a family friend and a source of inspiration to me in my love of the mountains and my business career. As John Muir said, ``Climb the mountains and get their good tidings''; Dick, your legacy lives on.

Mr. HILL

Mr. HILL. Mr. Speaker, over the past four decades, the growth of upward mobility in America has stagnated despite the numerous programs and trillions of dollars spent on our efforts to reduce poverty. In the wake of a stalemated war on poverty, we need to move beyond the status quo and, instead, look at the tangible impact that local leadership is having on the programs and concepts that they have created to help those who are struggling in our communities. In other words, Mr. Speaker, we need to focus on what works. Our goal should be moving people out of poverty and up the socioeconomic ladder, and we can start by turning to our local nonprofit leaders that are working to defeat hopelessness and offering concrete and aspirational futures. Look at AR Kids Read, the volunteer-based literacy initiative getting private sector volunteers into our elementary schools in Little Rock and Pulaski County and guiding third-graders to a successful future by working with them to assure that they read at grade level. Let's look at Our House shelter in Little Rock, which teaches families who are struggling with homelessness how to make and sustain positive change. Mr. Speaker, by prioritizing innovation and success in our community engagement, organizations like these--private, faith-based, and public--working hand in hand can offer our families hope, aspiration, and a roadmap toward the pursuit of happiness.

Mr. HILL

Mr. HILL. I thank the manager, my friend from Missouri. Mr. Speaker, I rise today in support of H.R. 1408, the Mortgage Servicing Asset Capital Requirements Act. Mortgage servicing is a very valued product for our community banks. I am proud to represent several mortgage service firms connected to community banks in my State of Arkansas. Having mortgage servicing assets connected with a residential lending portfolio adds value; it is incidental and important to banking; and, effectively, it is a proper hedge, a natural hedge for that residential lending business. However, because of Basel III's capital requirements imposed on mortgage servicing organizations, many banks are being forced to sell their MSA portfolios to hedge funds or nonbanks, which don't really have the experience with the local customers in a personal, knowledgeable way like our community banks do. MSAs are unique, as the gentleman from Missouri said, to the United States, but they are being regulated by rules developed by an international body without any study as to whether additional capital is even needed or any review on the impact of customer relationships. In my view, while staying implementation of these capital requirements during a study, as provided in the original version of the bill, would be optimal, it is nonetheless imperative that the impacts of this rule be thoroughly analyzed, vetted, and understood. I thank my friends, the gentlemen from Colorado and Missouri, for their work. I ask my colleagues to support this commonsense bill.

Mr. HILL

Mr. HILL. Madam Speaker, I ask unanimous consent that my name be removed as a cosponsor of H.R. 2722.

Mr. HILL

Mr. HILL. I thank Chairman Luetkemeyer. Mr. Speaker, I rise today in support of H.R. 432, the SBIC Advisers Relief Act. This commonsense bill eliminates costly, confusing, and duplicative regulations by State and Federal governments on Small Business Investment Companies, SBICs, like Diamond State Ventures and McLarty Capital Partners in Little Rock, Arkansas, by correcting the unintended consequence of drafting in the Dodd-Frank Act. Diamond State, which was named SBIC of the year in 2011 by the Small Business Administration, has made over 18 investments in small businesses in my State, employing over 2,300 Arkansans and investing over $40 million in Arkansas businesses. SBICs are already heavily regulated by the SBA and provide significant, long-term investments in small businesses across the USA. While Dodd-Frank exempted advisers that solely advise SBIC funds from registering with the SEC, it was silent on the concept of State regulation of Federally licensed SBIC funds, creating confusion and requiring this action today. It is going to save money, legal fees, accounting fees, and make our SBICs much more cost-effective. With that, I thank Chairman Luetkemeyer and our colleagues for their work on this issue and urge my colleagues to support the bill.

Mr. HILL

Mr. HILL. Mr. Speaker, early this year, I had the opportunity to meet with Ambassador David Saperstein, the U.S. Ambassador At Large for International Religious Freedom. He is tasked with leading America's fight against religious persecution throughout the world. This is a significant mandate, especially in the Middle East, where Christian, Jewish, and minority Muslim communities that have been settled in the same areas for millennia are being uprooted, subjugated, and murdered. These aren't acts of geopolitical jockeying or even political domination. These are acts of pure, unadulterated evil perpetuated by those of dark and wicked souls. Fundamental American values, among which are commitments to religious freedom and human rights, will always be the cornerstone of this Nation's foreign policy. I am a proud cosponsor of H.R. 1150, the Frank Wolf International Religious Freedom Act, because now, more than ever, we need to ensure that former Congressman Frank Wolf's landmark legislation is updated for the 21st century to be able to give us the best tools to promote religious freedom around the globe. I thank Ambassador Saperstein for his work.

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today to pay tribute to two courageous young men, Army Private William ``Andy'' Long and Private Quinton ``EZ'' Ezeagwula. On June 1, 2009, these soldiers were the target of a terrorist attack at a military recruiting station in my hometown of Little Rock, Arkansas, which, tragically, Andy Long did not survive. Last Wednesday, in an emotional ceremony at the Arkansas State Capitol and after a wait of 6 years, these two soldiers were finally awarded the Purple Heart Medals they deserved. I was privileged to be present as EZ and the family of Andy Long received the recognition they deserve for their sacrifice to our Nation. Andy's father, Daris Long, put it best at the ceremony when he stated that this was never just about Purple Hearts. ``It was about accurately identifying what really happened in Little Rock and at Fort Hood. These acts were not simply a drive-by shooting or workplace violence. They were terrorist attacks on our servicemembers in our own land.'' I am truly appreciative of the work of our entire congressional delegation, both past and present, whose tireless efforts over the past 6 years ensured the sacrifice of these young men has been fully recognized and honored.

Mr. HILL

Mr. HILL. Mr. Speaker, I rise today to recognize the University of Arkansas Razorback baseball team on their successful 2015 season. After winning their regional and super regional play, they made it to the College World Series in Omaha, Nebraska. This was the Omahogs' eighth trip to the College World Series and their fourth under the leadership of Coach Dave Van Horn. While their season may have come to an end last week, they still have many reasons to be proud. On April 4 of this year, the team was idling with a .500 record, and postseason play seemed doubtful. They then embarked on one of the greatest turnarounds in the program's history, winning 25 of their next 35 games to finish the season with an impressive 40-25 record. With their seemingly limitless enthusiasm and spirit, the Razorbacks represented themselves on the national stage with the determination and dedication that made all Arkansans and Arkansas alumni proud. Congratulations on a great season, and I look forward to your continued success. Go Hogs, go.

Mr. HILL

Mr. HILL. Mr. Chair, on rollcall No. 352 Gosar No. 2 DoD App.'s I was detained in a constituent meeting. Had I been present, I would have voted ``no.'' Amendment Offered by Mr. Johnson of Georgia

Mr. HILL

Mr. HILL. Mr. Speaker, losing a father, mother, husband, or wife is an emotionally traumatic experience for any family. In addition to the burden faced by families that have experienced this type of loss, losing a head of household has severe economic implications for their journey forward. The Bollinger family learned this three decades ago, after unexpectedly losing their beloved Steve, leaving his wife, Lin, with four children and no income other than social security and several small insurance policies. Luckily, the Bollingers had a strong team behind them to help them through the immediate difficulties this presented. During the Reagan Administration, Steve was Assistant Secretary for Community Planning and Development at the U.S. Department of Housing and Urban Development. Previously, he had run for Cincinnati City Council and served as the head of the Public Housing Authority of Columbus, Ohio, where he served honorably. His dedication rendered a sincere appreciation and respect from his colleagues, and these individuals would be the ones that summoned the means of supporting the Bollinger family until they won a worker's compensation claim that enabled them to return funds to the newly established Bollinger Foundation. And so, the group had a newly empowered mission: to support families that faced the same struggle. I had the opportunity to work with Steve when I was a young staffer on Capitol Hill, working for the U.S. Senate Committee on Banking, Housing, & Urban Affairs. Steve came before the Committee to bring the Reagan Administration's deregulation of the Community Development Block Grant. Steve, a young man at the age of 36, died while traveling to Savannah, Georgia, to speak to the Georgia Municipal League. Lin was pregnant with their fourth child, and Steve, who had been a public servant most of his adult life, had not had enough time to build a sufficient nest egg to properly take care of the future needs of his family. Since its founding, the Bollinger Foundation has provided nearly three quarters of a million dollars to families who have lost a loved one, with assistance given to families of individuals having worked in community or economic development, or assisted housing, as Steve did. The Foundation has helped countless families including families affected by the bombing of the Murrah Federal Office Building in Oklahoma City, in which the greatest loss of life and injury was to people who worked for the U.S. Department of Housing and Urban Development. Numerous families have benefitted from the efforts of the Foundation and their committed members, and their efforts represent Steve's memory well. I am grateful for Steve, our friendship of long ago and or the continued work of the foundation bearing his name.

Mr. HILL

Mr. HILL. Mr. Chairman, I want to thank my colleague from Arizona for yielding me time to speak on this very important amendment. I want to thank him for his leadership. Prescription drug abuse has become an epidemic in my home State of Arkansas and throughout our country. I am so grateful for people like Chief Kirk Lane of Benton, Arkansas, who leads on this issue throughout my district. Tonight I speak from the well of our beloved House first as a dad, and a Congressman second. I have had personal experiences with the tragic loss of life that come as a result of prescription drug abuse, and many times our children and our loved ones are the ones who are so closely affected and impacted. My daughter is 18 years old, and she already knows four people in her age group who have lost their lives due to the influence of prescription drugs and the related impacts. That is tragic. I am proud that Arkansas recently passed legislation that gives law enforcement investigators access to our State's Prescription Drug Monitoring Program. This law in my State will enhance investigative capabilities and will give law enforcement investigators better ability to bring criminals to justice who are abusing prescription drug practices and trying to dump those drugs back on the street. This is a serious problem that deserves more of our attention, first at our dinner tables, in our schools, and in our capitol buildings. I am so proud to support Mr. Gosar's amendment that cuts money from the overhead at the ATF and will strengthen these prescription drug monitoring activities. I thank the gentleman from Arizona.