Robert Pittenger

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I was unavoidably detained. Had I been present, I would have voted ``yea'' on rollcall No. 448, ``yea'' on rollcall No. 449, ``yea'' on rollcall No. 450, ``yea'' on rollcall No. 451, and ``yea'' on rollcall No. 452. ``

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, Joshua Wheeler, a Master Sergeant in the United States Army, was killed in Iraq in October 2015 during a battle with ISIS. A highly-decorated combat veteran, he was awarded the Silver Star, Purple Heart, and Medal of Patriotism. Shortly before his death, he and his wife constructed a new home where they planned to raise their infant son together. The Wheeler's mortgage lender and servicer, Ditech Financial LLC, partnered with Lt. Colonel Richard Cantwell (Ret.), Chairman of the Patriot Military Foundation, to ensure Ashley was financially able to keep the home. I am happy that entities like this recognize the enormous sacrifice of all service members and their families, particularly Gold Star families like the Wheelers.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I thank the chairman for his kind remarks. I remember the first time we met. It was across the street, and I approached him about wanting to serve on his committee. Little did I know that I was headed back to graduate school. He gave me a binder about 6 inches thick and said: Go study it. I had to look up all the acronyms, about 100 of them, and memorize those to get started. Mr. Speaker, Chairman Hensarling's leadership and the quality of person he is, he got out in front. He enabled us to become leaders, he enabled us to learn, to give focus, direction on important issues relative to the security of this country, relative to the economic freedoms of this country, and for that, I have the deepest sense of gratitude and respect that he empowered us as he led us. That is a great testament and a legacy I think that he will carry throughout this United States Congress, and the model that he has been for each of us as we have watched, not just his work ethic, but his character and who he is and how that translated into the public policy for the good of the American people. So, Mr. Speaker, let me say in my deepest heart my appreciation and my love for him and his sweet wife and his wonderful kids. What a tribute it was to be there with him yesterday when they unveiled the painting that will go in the Financial Services room, to the accolades of the Vice President and Senator Phil Gramm and so many others who were there to pay tribute to a great leader for our country. So I thank the chairman. And as Chairman Hensarling spoke to the issues relative to FIRRMA, yes, we have great challenges from nation states who seek to exploit our laws, who have sought to secure proprietary technology for their own interests and objectives, and particularly, as Chairman Hensarling mentioned, China. China, since 2015, has acquired 50 technology companies, semiconductor companies, many of them a part of our Department of Defense. These are critical companies for our own national security. They have been able to circumvent our laws through joint ventures, through minority partnerships to be able to obtain this technology. In fact, on one occasion, Chairman Hensarling and I were coming back from Asia, and we stopped in Anchorage and we visited our base there, and they showed us the Stealth F-22. And as the general was showing the incredible aspects of this remarkable plane, the greatest aircraft we have, he said: By the way, the technology of this plane, the engine was sold to China by GE. Companies have been forced, extorted in a sense, to gain access to Chinese markets. This is wrong. It is morally wrong. It is ethically wrong. It is wrong for our national security. The FIRRMA bill, which Chairman Hensarling recognized and helped pass, it wouldn't have happened without his total commitment and leadership. So this country is more secure today because of what passed regarding the FIRRMA bill. The rules will be written over the next year or so. We trust that all that was done will come out and close off these loopholes that have allowed foreign entities to exploit our Nation's national security. So this bill and our interests are even more secure as a result of the jobs bill that the chairman has advanced for us today. It does continue to ensure the security against predatory Chinese investments by modernizing our securities laws to reclaim the U.S. IPO market, all of this as China lays out its blueprint for dominance in the tech industry. This package would also cut down on the regulations that burden our small business community. This is key to continuing the innovation and economic growth we are seeking today. This tax relief and jobs package would continue the innovation and economic growth and would allow investors to have legal certainty by allowing them to interact with entrepreneurs without fear of securities violation. Furthermore, the cost of initial compliance for an IPO filing now exceeds over $2 million. This hinders small businesses that are ready to go public but can't afford these regulatory costs. So, Mr. Speaker, I commend this bill. JOBS 3.0 would lengthen ``on- ramp'' exceptions for IPO compliance, helping small business owners navigate one of the most expensive aspects of securities law. It also allows companies to test the waters before going public to help give them time for their IPO to have a better chance of success. These provisions are vital to encourage business growth and to reassure the small business community. I strongly encourage the Senate, therefore, to pass this bill. So, yes, Mr. Speaker, what Chairman Hensarling has done through this legislation has helped give greater financial empowerment and liberty and freedom to the American people, that is what it is all about today, is freedom. So my gratitude to him for the leadership that he has given us. Mr. Speaker, I also want to say a word of thanks to some other folks who I have probably this last moment to address in this Chamber. As Jesse Helms used to say, a wonderful man from North Carolina: That turtle didn't get up on the fence post by himself. And that is true, I think, for each of us in this Chamber, but I know it is true for this Member of Congress. What I have been able to do, by the grace of God and through the enablement and empowerment of my chairman and others, will hopefully last, but it happened because of people along the way who stood with me, who supported my efforts. Of course, I start with my family. I have the most wonderful family in the world. I have ten grandkids I get to go home to, 10 years and younger. I am Pitto to them, and that is all the world to me, and we have a fun time chasing around. But my team, my staff, enabled me to serve the Ninth Congressional District of North Carolina, those people that I love, those eight counties out there that I am endeared to, but the people who really helped them were the folks back home in my district, in my office. I speak specifically of Linda Ferster, Chris Sullivan, Jamie Bowers, Graham Long, Robert Becker. They were with me from day one. They stood with me the whole 6 years. Nobody flinched, nobody went anywhere. That team was so incredible. Robert Becker is one of the greatest leaders we have in North Carolina for our veterans. He gets calls from all over the State and he says: What do I do to help this veteran? Linda Ferster has been working these issues in the bureaucracy for 18 years. These are great, faithful people who have stood up for my constituents in my district, and all the good that happened in that district was because of them. And I just gave them a door to say: Go through it and you go serve. And they served like they were missionaries. They love those people. Every day they wake up thinking, who can I help today? You know, whose life can I change in a positive way today? And that is the nature of the service that my team provided, the same type of leadership that I had up here in Washington. My role in FIRRMA just didn't happen by myself. There are many people on my team up here that supported that effort. Clark Fonda was a great leader for me in that. There are other people outside Congress. Heath Tarbert, the Assistant Secretary of the Treasury, a remarkable individual who served this country so well over such a key part of what we did in this national security bill on FIRRMA. So my heart is just filled with gratitude for the privilege of serving the good folks in the Ninth District of North Carolina; my gratitude for the body in this Chamber; my gratitude for being able to serve on the Financial Services Committee under the leadership of Chairman Hensarling. It couldn't be greater. I couldn't be more fulfilled in the 6 years that I had here. I will always treasure and remember this time. So, Mr. Speaker, I thank you, I thank Chairman Hensarling. He is an absolute important friend for me, and I hope we can continue to work together for many years to come. God bless you.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I thank the chairman for his exemplary leadership on behalf of our military and in defense of our country. We are deeply grateful for him. Mr. Speaker, I say today how pleased and grateful I am that our Foreign Investment Risk Review Modernization Act is being included in the NDAA bill. To that end, I thank Chairman Hensarling, Ranking Member Waters, Heath Tarbert with the Treasury Department, Clark Fonda, my chief, so many people, Andy Barr, who contributed to this process to make sure that we are in a position of strength. For over 2 years, I have led these efforts to prevent Chinese and other adversarial nation-states from acquiring our sophisticated technology in our military. This bill, this Foreign Investment Risk Review Modernization Act, was the result of countless meetings throughout our assembly, as well as throughout this district, of talking to multiple people in the industry, as well as our intelligence community and defense, to make sure that we had done the job to allow adequate oversight for these investments. FIRRMA will broaden the jurisdiction of CFIUS in several key areas, including minority noncontrolling investments and certain real estate transactions close to national security sites. FIRRMA strengthens our export control laws and creates an interagency review to cover overseas joint ventures. Overall, this bill closes several key loopholes in the CFIUS process. Today, I do believe that the passage of the NDAA and FIRRMA legislation will help improve national security and combat aggressive Chinese efforts to secure our technology. I thank all who participated in this process, and I commend this bill to our Congress to pass.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise today in strong support of the House amendment to the JOBS and Investor Confidence Act. This bill that was cosponsored with my good friend, Keith Ellison from Minnesota, is part of 32 combined bills. Our bill, the Credit Accuracy and Inclusion Act, will allow 100 million Americans to gain better access to credit. That is what this bill is all about. Just think about it: an individual now can take their rent payment, their car payment, and their utility payment and use that to apply toward increasing their better credit application to the credit reporting agencies. Mr. Speaker, I commend this bill. This is important for our economy, and it is important for the American people to be able to go out in the market and acquire what they need to acquire in homes and cars to build their own wealth. So I thank the leadership, I thank Mr. Hensarling, and I thank Ms. Waters for her leadership in this bill, and I commend them for this bipartisan effort.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, to this end, I am encouraged by the progress we have made on this issue, and I am grateful for the opportunity to help move forward important legislation to reform CFIUS and export controls.

Mr. PITTENGER. Mr. Speaker, I would like to thank the chairman for his leadership on this very important legislation, H.R. 5841, FIRRMA. I would also like to thank Chairman Royce, Congressman Barr, and Congressman Heck for the significant leadership role that they played with this bill, as well as my chief of staff, Clark Fonda, and Assistant Secretary of Treasury Heath Tarbert. They have put in countless hours, working through details and language on this bill. Mr. Speaker, I have worked on CFIUS-related issues for nearly 3 years. Prior to FIRRMA, I spent my efforts identifying problematic transactions and engaging in a public media campaign to raise awareness and stoke government action. Three years later, I am so happy to the say that we have had a robust impact on this issue. For example, we helped prevent the Chicago Stock Exchange from falling into the hands of opaque Chinese ownership. We protected our defense supply chain by helping stop Lattice Semiconductor from being purchased by a Chinese state-owned investment fund. We helped prevent the Chinese from exploiting important personal data during an attempt to purchase MoneyGram. Our successful initiatives have garnered the attention of Senator Cornyn. We began a yearlong process to draft the original version of FIRRMA. Over the past year, my staff and I have seen dozens of versions of FIRRMA, both introduced versions and redline edits, from various offices and stakeholders. For months, we have fought for the strongest CFIUS reform bill possible. Today, we reach a milestone where floor action is imminent, which is a huge step forward for the cause of CFIUS reform. The version we are considering today, of which I am the sponsor, includes a number of reforms to strengthen the current system and prevent the flow of military-applicable technologies to the Chinese Government, in particular. The bill creates a process by which countries of special concern, which would include China, would have increased oversight when attempting to purchase critical technology companies in the United States. The bill also helps create an interagency process through export controls to review overseas joint ventures, a process that is absent under our current system. While I am pleased that we have gotten to this point in the legislative process, both the House and Senate versions are departures from the original FIRRMA concept. However, both would improve significantly the CFIUS and export control processes, as well as have a strong impact on governing Chinese and other adversarial investments. Regardless of what actions are taken next to reconcile the differences with the language of the Senate version, passed as part of their NDAA, there are certain principles that should be addressed in the final version. History will record whether we have done our job to prevent the transfer of proprietary intellectual property and critical technologies to adversarial governments.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, on that I demand the yeas and nays.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I thank the gentleman for his leadership and for providing this opportunity tonight for us to highlight the significance and the importance of this tax bill for the American people. Mr. Speaker, when I lived in Washington, D.C., in 1980, it came out of the malaise of an economy that wasn't growing. No jobs, no opportunity. And Ronald Reagan had a vision for a different America, and I worked hard on his campaign. He changed the whole structure of our Tax Code and reduced the regulations that moved this economy forward. Unprecedented growth in jobs. Eighteen million jobs came out of that economy. And that is what this vision of President Trump and this Congress is about today. Who would have thought a year ago--just a year ago--that America would be experiencing what it is today: companies like Apple reinvesting $350 billion; ExxonMobil, $50 billion. You have unemployment that has plummeted to a 49-year low. U.S. manufacturing is expanding at the fastest rate in 14 years. Consumer confidence is at a 17-year high. Wages are up. Opportunities are up. I had a gentleman come to me just this last week who owns two restaurants in Charlotte. He said: Thank you for your tax cut. I am now going to expand and build another restaurant out at the lake, and I can do that because I have got the capital to go reinvest. You know, we have constrained this economy and the American people by these burdensome tax rates that are not competitive. Companies have been going to the rest of the world--Ireland, U.K., Germany--and leaving America because we weren't competitive with our Tax Code. Now they are coming back. Now companies in America are expanding. You take just an individual. I had a lady at a gas station the other day. I was getting my gas, and she was pumping her gas. She looked at me, and she said: Are you Congressman Pittenger? I said: Yes, ma'am. She said: Thank you. I am a single mom. I have got that little baby in the back seat, and what you have done for me is give me another $150 a month, and I really can't tell you how much I appreciate what you are doing. Eighty-two percent of American people are going to get a pay raise. They are getting it right now. And that is the difference. The proof is in the paycheck. Americans know that. Regardless of what the left says, the media says, or anyone else, the reality is jobs are expanding, paychecks are going up, people are getting bonuses. In Charlotte alone, we have Bank of America giving out bonuses; we have Charlotte Pipe and Foundry, SteelFab, American Airlines, so many. Five hundred companies in this country have given out bonuses to their folks, and probably so many more we don't know about. So I want to commend Chairman Wilson for his leadership. I thank him for making sure that the American people know what is yet to come. We have just scratched the surface on the opportunity and the growth and the jobs that will be there for the American people.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I thank the chairman for his exceptional leadership on this important consideration and legislation. Mr. Speaker, I rise today in strong support of the gentleman from Arkansas, as well and the whip of the Financial Services Committee, for his work on H.R. 4790, the Volcker Rule Regulatory Harmonization Act. Mr. Hill's legislation streamlines the rulemaking process by granting the Federal Reserve sole authority to make exemption determinations under the Volcker rule. This simplification is a vital change from the confusion and the regulatory inconsistencies of the current Volcker rule by resolving the problem of having five different regulators weighing in on the same issue. This bill also exempts community banks under $10 billion in assets from the rule. Mr. Speaker, I want to note that, according to the FDIC, community banks with less than $10 billion in assets represent 92 percent of the insured institutions. Now, more than ever, actions like this need to be taken to provide relief to community banks and smaller financial institutions. Look no further than my State in North Carolina, which has lost 50 percent of its banks since this financial crisis and the inception of the Dodd-Frank bill. Mr. Speaker, I thank Mr. Hill for his work on this bipartisan piece of legislation. It is long past time that we provide commonsense reforms to overly complex regulations passed under the Dodd-Frank Act. This is why I strongly urge my colleagues to join me in voting ``yes'' on H.R. 4790.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, over the past few weeks, I have joined many of our colleagues to rise in honor of Dr. Billy Graham. Today, I rise in honor of one of the quiet heroes who helped make his worldwide ministry possible. Ms. Stephanie Wills served as Billy Graham's secretary--she always refused fancier titles--for over 45 years, traveling the world to help Dr. Graham at each crusade and at countless meetings. My first conversations with Stephanie were in the early 1970s, when I served for 10 years as the assistant to Dr. Bill Bright, the founder of Campus Crusade for Christ. It was a blessing to see Stephanie at Dr. Graham's funeral, as she was still faithfully serving him. Stephanie is legendary. She is highly competent, fiercely loyal, and unflappable. I have said several times that Dr. Graham was a great man because he was faithful to the mission that God had given to him. The same can be said of Stephanie Wills. She has been a faithful servant of Jesus Christ, playing a quiet yet enormous role in sharing the Gospel around the world through her dedicated and tireless support of God's servant, Dr. Billy Graham. Well done, Stephanie, a wonderful servant of God.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise today in honor of North Carolina State University senior Michael Macchiavello, who, on March 17, won the NCAA Division I National Wrestling Championship at 197 pounds. Mr. Macchiavello is a graduate of Sun Valley High School in Indian Trail, North Carolina, where he was a 4A State champion wrestler in 2013, when he posted a 61-1 record. His college coach says Michael is constantly improving and that his work ethic, discipline, attitude, and commitment put him in position to compete for the national title. Mr. Macchiavello is not just a champion inside the ring. He has already completed a bachelor's degree in finance and is working on a master's of arts. Congratulations to Michael Macchiavello on winning the NCAA Division I National Wrestling Championship. Indian Trail, Union County, and the entire Ninth Congressional District are mighty proud of him. We wish him the best in what we know will be a great success for him in the future.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise today in honor of the state champion Forest Hills High School basketball team that won the North Carolina High School Athletic Association 2-A Championship on March 10. Forest Hills High School is located in Marshville, North Carolina. This is their first basketball championship in school history. Yellow Jackets junior guard Jai Rorie made four free throws in the final 14 seconds to lead his team to a 63 to 59 victory. Congratulations to the team: Brandon Barrier, Dillon Wright, Cam Richardson, Jaquan Williams, Asiah Byrd, Trey Belin, Jaleel McLaughlin, Tanner Lowery, Tyquan Rushing, Jamylan Blakeney, Garrett Horne, Jalen Huntley, Keeshawn Tyson, Nasione Tyson, Jai Rorie, and Josh Owens; Congratulations to head coach Matt Sides; and assistant coaches Danny Bailey, Garrett Malone, and Keith Sides. Go, Yellow Jackets.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I would like to convey my deep appreciation to my colleague on the Financial Services Committee, Mr. Tipton, for his efforts to improve and reform the examination process for our Nation's financial institutions. H.R. 4545 is designed to address enduring concerns about the lack of consistency and quality in the bank examination process. The current exam process can be both opaque and secretive. Coupling this with overburdensome regulations and increased compliance costs have forced many community banks and credit unions to close up shop or reduce their ability to provide for consumers. Look no further than my State, North Carolina, which has lost about 50 percent of its banks since the financial crisis. In my own city of Charlotte, a decade ago, we had six community banks. Today, we only have one because of the burdensome and costly compliance requirements. Mr. Tipton's legislation creates a fair and impartial process for financial institutions to appeal their examinations, which gives the necessary clarity for banks and credit unions to provide services to their customers, leading to a job creation and economic prosperity environment. That is why I want to thank the gentleman from Colorado for working on this bipartisan piece of legislation. It is long past time that we provide commonsense reforms in a transparent approach regarding regulators' decisionmaking during the examination process.

Mr. PITTENGER

Mr. PITTENGER. Madam Speaker, I rise in memory of Homer Vaughn Wagnon, Jr., a veteran of World War II who left this world on November 29, having ``just satisfied his life's ambitions,'' per the obituary provided for him. Mr. Wagnon served our country in the infantry, fighting his way across France, Belgium, Holland, and Germany as he and his fellow members of the Greatest Generation pushed back against tyranny. He continued his service to our country in private business, helping to build a post-World War II incredible economy as a mechanical engineer. His range of new products included mechanical rubber goods, radio and TV equipment, and items for naval ships and aircraft applications. Mr. Wagnon leaves behind the love of his life, Darlene Raitt Wright, and Wagnon's 6 children, 11 grandchildren, and 5 great-grandchildren. His grandson Tariq Bokhari followed his grandfather's example: In distinction, he now serves as an outstanding member of the Charlotte City Council. Madam Speaker, please join me in expressing condolences to the Wagnon family.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise today in memory of Scotland County, North Carolina, Deputy Alexis ``Thunder Eagle'' Locklear, who was killed in the line of duty last Thursday while rushing to the aid of a fellow officer. Deputy Locklear was just 23 years old and had only been on the force for 10 months, yet those who knew him best said he died doing what he loved. My friend, Scotland County Sheriff Ralph Kersey, said that Deputy Locklear made friends everywhere he went. Sheriff Kersey said: ``He wanted to be a law enforcement officer, and he chose the Scotland County Sheriff's Office. It did not take a long time spending with Thunder to know that he would fit right in with this family.'' Deputy Locklear leaves behind a 4-year-old daughter as well as his parents, grandparents, and six sisters. Last week, Scotland County lost a hero, but a hero remembered never dies in our hearts. Please join me in offering condolences to the Locklear family, Sheriff Kersey, and the Scotland County Sheriff's Office.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I thank Mr. Hultgren for assembling this great group together. We treasure this opportunity to honor Dr. Billy Graham. Each of us has a special memory of Billy Graham. I can recall having graduated from college, my first job was with Campus Crusade for Christ. I lived in Dallas, Texas, to prepare for a big meeting, a convocation that brought 84,000 young people. I was asked in 1971 if I would like to caddy for Billy Graham. He was playing in the Byron Nelson Golf Classic with Arnold Palmer, Bob Hope, and Byron Nelson. I can assure you we chased golf balls all over the golf course. It was a great occasion. But what I saw as a young believer in Christ--I had come to Christ in my senior year in college--I saw a man who looked you in the eye. He didn't look at his watch. He cared about people. Billy Graham didn't walk over people to reach the world. He understood the importance of every person before God. I think that is why his ministry and his mission was so outstanding with Presidents, kings, or cab drivers, whoever it might be, the millions of people who came to Christ because of him. On this meeting that we planned in Dallas, 250,000 people came to downtown Dallas. They heard Billy Graham and Johnny Cash. It was a great assembly. But through my years, the next decade, working for Dr. Bright with Campus Crusade, I had the occasion to be around Dr. Graham on many occasions. On one such occasion, I picked him up at the airport in 1975 here in Washington and was taking him back to the hotel. He said to Dr. Bright: the next challenge we have in the world today is terrorism. He said that this group who doesn't honor God and they don't honor Christ are going to be the force we deal with. How remarkable that it was Billy Graham who helped heal our Nation after 9/11 as he spoke to that National Cathedral to bring the message of hope in God. Yes, I went with Billy to his crusades in Cleveland, Dallas, and Charlotte. In fact, the first time he ever brought together young people, he had a Friday night big crusade for young people. They came out by the tens of thousands. Michael W. Smith played, Jars of Clay, and D.C. Talk. Billy could reach anybody because he was real and he was personable. They understood him. His message was clear--so simple--that God loves us, He has a plan for our life, and Jesus Christ is the means to that plan. He died on the cross for our sin, that we could receive Christ, know Him, and know eternal life. He gave that message all over the world. I have met people in Romania, Czech Republic, and the former Soviet Union--now Russia--all over the world who met Christ because Billy Graham came, and he took the gospel to them. Probably in my funniest moment to have a conversation with him was with Franklin, his son. Now, Franklin will charge hell with a water gun. Franklin will go anywhere. He was headed to Moscow. I was with him on a little plane, it was a twin engine Mitsubishi. We stopped in Burlington, Vermont, and then we stopped over in Nova Scotia to stay overnight at a little $6 motel. The phone rang while we were checking in. The man said: Yes, he is here, and he gave the phone across the counter to Franklin. Franklin said: Hello? Yes, Daddy. Yes, sir, I am headed to Moscow. Yes, sir. I have got another pilot. Yes, sir. Robert Pittenger. He is going with me. At that point, his father, said: Robert Pittenger? I thought he had more sense than that. That was Billy. He knew his son, and he loved his son. But Franklin will take his gospel just like his father, just like every single person in that family. Probably the greatest legacy to Billy Graham is the testimony in all of our lives through his own children who followed him into the ministry. So I commend our Nation for honoring him in the way that we are. He will lay and he will be a part of this great assembly, this great Capitol, forever as a statue. I thank Mr. Hultgren for bringing us together, and I thank the Lord for sending His messenger, Billy Graham.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I thank my good friend and chairman of the Financial Institutions and Consumer Credit Subcommittee, Mr. Luetkemeyer, for his active work on this important legislation. In the aftermath of the financial crisis, the Basel Committee expanded regulations on operational risk requirements imposed on financial institutions. Unfortunately, like many of the implemented regulations, unintended consequences were brought about. The complexity and nature of the current operational risk capital requirements have greatly diminished the availability of credit for consumers, resulting in increased costs and prices for families and small businesses. To address these concerns, H.R. 4296 limits the burden of operational risk capital requirements to a bank's current activities and businesses and permits adjustments to lessen operational risk. This will ensure that banks are holding increased capital more efficiently and will expand the credit market to better meet the needs of hardworking Americans. Let me be clear: This bill does not eliminate operational risk capital requirements but, prudently, ensures that requirements are forward-looking and appropriately tailored to a bank's current financial risk profile. As a key provision of the CHOICE Act, which passed the House in June, I want to thank Mr. Luetkemeyer for his persistence and continual leadership on this important issue. I urge all of my colleagues to please join us in supporting this commonsense, bipartisan bill.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise today in great support for Congressman Hill's bill, the TRID Improvement Act. This bill will lower consumer costs and lessen regulatory burdens for growing businesses, which will lead to healthier and well-functioning financial markets. Mr. Speaker, I thank Congressman Hill for his great work and leadership on this issue. I am pleased that this legislation does include the Credit Access and Inclusion Act, H.R. 435, which I cosponsored with Congressman Ellison, and which we introduced together. H.R. 435 is designed to give hardworking Americans better access to affordable credit by providing more opportunities for them to build their credit on their own merit without Federal funds or new bureaucracy. At a time when access to credit is a practical necessity for economic and social mobility, tens of millions of Americans are hamstrung because they have little or no credit history. Currently, on-time utility and rent payments are not reflected in credit scores. The Credit Access and Inclusion Act amends the Federal Fair Credit Reporting Act, or FCRA, to allow for nonfinancial service providers, such as telephone, cable, wireless, electric, and gas companies, as well as landlords, to report their customers' on-time payments to credit reporting agencies, or CRAs. By incorporating these on-time payments, called alternative or additional data, into credit reports, more Americans can access affordable and responsible financial products and services, buy homes and cars, and build wealth, thus strengthening or entire economy. In total, our bill would enable nearly 100 million Americans to establish or raise their credit score, all without Federal mandates. Ultimately, this legislation will give every American the ability to build a better life. Mr. Speaker, I thank Congressman Ellison for actively working together on this very important issue, and I thank Congressman Hill for his work on the TRID Improvement Act. Please join me in supporting this commonsense legislation.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I thank the chairman for his leadership, and I thank Congressman McHenry, also. Mr. Speaker, I rise today to just, regretfully, say that this ruling, Madden v. Midland, is just another layer of Big Brother, a misguided ruling by some people of good intentions and goodwill, but the net effect is fewer choices for the American people. Mr. Speaker, I think we have seen what has happened as a result of Dodd-Frank. We saw what happened to the American economy. We saw what happened to the American consumers. Mr. Speaker, regrettably, it is the low-income, minority people who have suffered the most in the last decade as a result of the misguided regulations that were put upon the American people. Big Brother really doesn't have the answers. What we do have is the opportunity to provide choices for the American people, and that is what H.R. 3299 is all about. Mr. Speaker, in North Carolina, we have lost 50 percent of our banks because of this misguided regulatory overmanagement by the Federal Government. There is less access to capital and credit for small business. There is less access to capital for that individual who has a real need. Maybe they want to start something, or maybe they have an emergency in their family. This is what this bill is all about, and we need to be behind it. We need to support it. We need to understand that the American people know how to make good choices. We need to trust the American people and not trust Big Brother and the Big Government.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise to speak on behalf of our Nation's greatest tragedy. I would like to thank Chairman Smith so much for his leadership over the past 35 years. He has been unrelenting in his commitment and support of life, and I have the deepest respect for him. Today marks Roe v. Wade's 45th anniversary. Since that ignoble decision, over 60 million precious, innocent unborn babies have been intentionally killed by abortions in the United States. In light of the anniversary and the March for Life event, I would like to share the words of the late Mother Teresa: ``But I feel that the greatest destroyer of peace today is abortion, because it is a war against the child, a direct killing of the innocent child, murder by the mother herself. ``And if we accept that a mother can kill even her own child, how can we tell other people not to kill one another? ``How do we persuade a woman not to have an abortion? As always, we must persuade her with love, and we remind ourselves that love means to be willing to give until it hurts. Jesus gave even His life to love us. ``So the mother who is thinking of abortion should be helped to love, that is, to give until it hurts her plans or her free time, to respect the life of her child. The father of that child, whoever he is, must also give until it hurts.'' Mother Theresa goes on to say: ``By abortion, the mother does not learn to love but kills even her own child to solve her problems. ``And, by abortion, that father is told that he does not have to take any responsibility at all for the child he has brought into the world. That father is likely to put other women into the same trouble. So abortion just leads to more abortion. ``Any country that accepts abortion''--Mother Theresa says--``is not teaching its people to love, but to use any violence to get what they want. This is why the great destroyer of love and peace is abortion.'' The work of this body, Mr. Speaker, must be to correct this tragedy to protect the lives of those who cannot speak for themselves. We hope and pray for those who stand in darkness on this grievous loss of life and who have been advocates of abortion. Who would know the mind of God regarding these 60 million precious souls, that He may have given to some of them the cure for cancer or Alzheimer's or Parkinson's or many other diseases? God is merciful, but we must recognize our own responsibilities and affect for our own actions. This week, we have the opportunity to outlaw the diabolical practice of killing babies who survive an abortion, something incredibly barbaric, by passing the Born-Alive Abortion Survivors Protection Act. I also urge my colleagues to join me in support of the No Abortion Bonds Act, legislation I introduced to block Planned Parenthood and other abortion providers from using tax-exempt, taxpayer-backed bonds to finance their abortion clinics. Ours is a great cause, greater than us, greater than this generation. It is a battle for the very soul of what we stand for as a nation.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise today in honor of Pembroke, North Carolina, named 2017 Small Town of the Year by the North Carolina Rural Assembly. Pembroke, population 3,000, is home to the University of North Carolina at Pembroke, as well as the Lumbee Indian Tribe, two wonderful organizations with whom I am actively involved. Much of southeastern North Carolina has been decimated by poorly negotiated international trade deals and the loss of traditional industries. Pembroke is fighting back by participating in a first-in- the-Nation innovation and entrepreneurship program and is working to build its economy by focusing on healthcare, construction, and agribusiness. Congratulations to Mayor Charles Gregory Cummings, Council Members Locklear, Jones, Sampson, and McNeill, Town Manager Tyler Thomas, UNC Pembroke Chancellor Robin Cummings, Lumbee Tribal Chairman Harvey Godwin, and the entire Pembroke community on this outstanding achievement.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise today in honor of Officers Corey Helms and Dylan Cole of the Monroe, North Carolina, Police Department, who, on December 26, risked their lives to save two families trapped in a burning home. Officer Helms was first to arrive but was pushed back by the thick cloud of smoke. Officer Cole arrived next, and together, the two men attempted to find a ladder to rescue the five people trapped on the second floor. Unable to find a ladder, Monroe's two heroes disregarded their own safety by charging into the burning home and up the stairs before carrying and guiding the young families to safety. Officers Cole and Helms rescued two adult sisters and their children, ages 3 years, 10 months, and 5 months. There were no injuries as a result. Officers Corey Helms and Dylan Cole are living examples of what it means to serve and to protect. Please join me in honoring these two brave officers and all the men and women of the Monroe Police Department who work on our behalf every day. God bless them.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I rise to express my outrage at a detailed report by Politico which included testimony that President Obama and his administration obstructed a major DEA investigation into Hezbollah when they wanted to secure the Iran deal. These revelations are shocking and infuriating but, regrettably, not surprising. This is the same administration that sent $1.7 billion in cash ransom to Iran. According to the DEA, Hezbollah was operating a global criminal enterprise worth over $1 billion, annually. They were selling drugs and running arms as a means of funding their terrorist activities. A major DEA-led task force called Cassandra had procured mounting and incriminating evidence against them. Yet, according to senior Treasury and Defense officials, the Obama administration consistently obstructed and stonewalled the investigation in order to protect the Iran deal. In essence, it seems President Obama and his administration were so focused on striking a deal with Iran that they let a major global terror group off the hook, even though the terror group was involved in global drug trafficking and sent massive amounts of cocaine and other drugs to our American communities. I have sent this letter to Chairman Gowdy, urging an immediate investigation into this matter.

Mr. PITTENGER

Mr. PITTENGER. Mr. Speaker, I was unavoidably detained. Had I been present, I would have voted YEA on Roll Call No. 638, and YEA on Roll Call No. 639