Ann Wagner

Mrs. WAGNER

Mrs. WAGNER. Madam Speaker, I share the gentleman from Georgia's sentiment completely, and we are grateful to Sean Duffy. We wish him and his family the very, very best in making the choice to choose to put his family first and retire from this wonderful institution. Madam Speaker, I thank the gentleman from Georgia (Mr. David Scott) for yielding to me to say a word or two about my friend, Mr. Duffy. Madam Speaker, I urge passage of this wonderful, bipartisan piece of legislation, H.R. 4067.

Mrs. WAGNER. Madam Speaker, I yield myself such time as I may consume. I thank and congratulate the gentleman from Georgia (Mr. David Scott), my good friend, on so much heavy lifting and the work that he has done to bring this bipartisan piece of legislation to the floor, along with our former colleague from Wisconsin (Mr. Duffy) who was also very involved with you, Madam Speaker, on this bipartisan piece of legislation, H.R. 4067. According to the most recent FDIC survey of unbanked and underbanked households, 6.5 percent of U.S. households were unbanked in 2017, meaning no one in the household had a checking or savings account. That equates to approximately 8.4 million American households. The same survey showed that an additional 18.7 percent of households were underbanked, meaning that the household had a bank account but also obtained financial services outside the mainstream banking system. That is more than 24 million U.S. households composed of nearly 50 million adults and 15 million children, Madam Speaker. These statistics point to the staggering number of Americans who have limited access to traditional banking services. While these numbers have, thankfully, declined since the financial crisis, the Consumer Financial Protection Bureau's Office of Community Affairs has and continues to engage in efforts to examine the unbanked and underbanked, as well as allocate resources to Americans who remain credit invisible. The Office of Community Affairs works with the CFPB's Office of Research and the Office of Fair Lending to examine credit deserts and equip communities with tools for financial education. The Bureau's Your Money, Your Goals program offers a variety of materials to help consumers pursue financial empowerment and resources for organizations aimed at helping financially vulnerable individuals. Despite the progress that has been made, this remains an important issue that merits our attention. By further directing the CFPB's Office of Community Affairs to focus its work toward the underserved, we are working to assure these consumers are not overlooked. This bill reaffirms our intent to engage in efforts to examine the unbanked and underbanked and identify solutions to deliver resources to Americans who remain credit invisible. All Americans deserve access to the basic financial tools that will help them achieve financial independence, and this bill takes an important step in promoting financial inclusion and providing access to all Americans. Madam Speaker, I thank the gentleman from Georgia (Mr. David Scott) for all of his tireless efforts on this bill, and I urge my colleagues to support the Financial Inclusion in Banking Act. Madam Speaker, I reserve the balance of my time.

Mrs. WAGNER. Madam Speaker, I am ready to yield back if the gentleman is ready to close. Madam Speaker, I yield back the balance of my time.

Mrs. WAGNER

Mrs. WAGNER. Mr. Speaker, I yield myself such time as I may consume. I appreciate the majority moving H.R. 2514, the COUNTER Act of 2019, again, this week, as a standalone piece of legislation. Both Republicans and Democrats agree, protecting the financial system from bad actors is a priority. We must give financial institutions the tools and resources they need to fight these bad actors. According to a 2016 report by the U.S. Government Accountability Office, from January 2009 to December 2015, Federal agencies assessed roughly $5.1 billion in fines, forfeitures, and penalties for violations of the Bank Secrecy Act and anti-money laundering regulations, often referred to as BSA/AML. A separate 2016 analysis of anti-money laundering enforcement found that penalties and fines for BSA violations significantly increased since the 2008 financial crisis. This report concluded that regulators had become more aggressive in pursuing BSA violations in the wake of the crisis. However, this data is from 2016. We know that the current enforcement regime is outdated. Technology has outpaced the tools and resources available to Federal agencies to pursue these bad actors. H.R. 2514 makes important changes to strengthen BSA and AML enforcement. The bill includes key aspects of the BSA/AML reform package from last Congress, including a provision that allows for tailored information-sharing by financial institutions with their foreign branches to better identify suspicious activity. The bill also includes important updates to the reporting thresholds for Suspicious Activities Reports, or SARs. H.R. 2514 reforms the SAR framework by requiring the Financial Crimes Enforcement Network to carry out a study examining whether the current SAR thresholds are adequate. This study will provide the necessary data to alter the current SAR filing regime in the future. There is clearly a recognition on both sides of the aisle that the status quo is unacceptable. The bill also encourages greater innovation, ensures efficiency, and requires treasury to play a prominent role in coordinating AML policy. These measures will help ensure that the most effective AML policies are being used to stop terrorists and bad actors. I want to thank the gentleman from Missouri (Mr. Cleaver) and the gentleman from Ohio (Mr. Stivers) for all their hard work and effort on this bill. Additionally, I want to thank the gentleman from Missouri (Mr. Luetkemeyer), the gentleman from Virginia (Mr. Riggleman), and the gentleman from Ohio (Mr. Gonzalez). Mr. Speaker, their priorities have made the bill stronger, and more focused, which will enable the Treasury Department and other Federal agencies to carry out critical anti-money laundering processes. I encourage my colleagues to support H.R. 2514, and I yield back the balance of my time.

Mrs. WAGNER

Mrs. WAGNER. Madam Speaker, I thank the gentlewoman from Arizona (Mrs. Lesko), my friend, for yielding. Madam Speaker, I rise today to urge my colleagues to support H.R. 777, the Debbie Smith Reauthorization Act. Along with my friend Carolyn Maloney, I introduced the Debbie Smith Act with the support of the Rape, Abuse, and Incest National Network, RAINN. Madam Speaker, I thank Congresswoman Maloney for her untiring work to end and prevent sex trafficking and other forms of violence against women, which I also support, and for her willingness to reach across the aisle to get things done. She is a warrior for vulnerable women and children, and I am so proud to work with her on this important legislation. Debbie Smith programs provide much-needed funding for crime labs to process DNA evidence and strengthen the national DNA database, which has over 17 million profiles in it. It provides justice to victims. Under Debbie Smith, Congress provides $151 million, annually, to State and local labs for DNA and rape kit testing. Better technology has improved our ability to test and track DNA samples from crime scenes, and this data is making a real difference in the efforts to bring rapists and other sexual predators of sexual violence to justice. The FBI DNA database has been used in more than-- are you ready for this, Madam Speaker?--465,270 investigations. One in five rape kits entered into the national database generates a DNA match pointing to a serial rapist. Since the Debbie Smith program was created back in 2005, nearly 200,000 DNA matches have been made in criminal cases, providing justice to victims in cases that may have otherwise gone unsolved. But law enforcement can't keep up. Untested DNA cases have increased by 85 percent since 2011. In my own home State of Missouri alone, more than 5,400 untested rape kits are sitting in labs and in storerooms. We need the Debbie Smith programs now more than ever. This legislation authorizes $151 million for Debbie Smith DNA Backlog Grant programs, $4.5 million for grants to State and local governments for training programs, and $30 million for State and local governments to create programs to collect and use DNA evidence related to sexual assault. The Senate unanimously sent their version of this legislation over to the House in May, but the House leadership did not bring it to the floor, allowing it to expire on September 30. Both Democrats and Republicans on the Judiciary Committee, along with Congresswoman Maloney, have led the charge on this reauthorization. It saddens me that the Judiciary members had to file a discharge petition to get Speaker Pelosi to put this bill on the floor. This is not about personal ownership or asserting the House's authority. This is about getting something signed into law. I worry that the Senate version of this bill includes accountability and performance measures that are not in the House bill. If the Senate bill were being voted upon today, the President could sign it into law tomorrow. Looking forward, I implore both parties, House and Senate, to ensure the Debbie Smith Reauthorization gets to the President's desk as soon as possible. Madam Speaker, I thank Leader McCarthy, Ranking Member Collins, Chairman Nadler very, very much, and Congresswoman Maloney most of all. Madam Speaker, I urge my colleagues to join me in reauthorizing these programs that convict dangerous predators and help victims to get the justice that they deserve.

Mrs. WAGNER

Mrs. WAGNER. Mr. Speaker, I thank the gentleman from North Carolina (Mr. McHenry), ranking member, for yielding. Mr. Speaker, I rise today in support of H.R. 2513, the Corporate Transparency Act. I thank my friend, Carolyn Maloney, for her tremendous work to fight trafficking and expose criminals who make money for exploitation; and my friend and colleague, Blaine Luetkemeyer, the ranking member of the Subcommittee on Consumer Protection and Financial Institutions for all his work on this issue of beneficial ownership. I agree with my colleagues that we should not place unnecessary requirements on small businesses, and I believe that this legislation strikes the right balance. It helps hardworking law enforcement officials expose traffickers who are laundering money through shell companies without placing onerous mandates on small businesses. Human trafficking is an incredibly lucrative industry, with profits estimated at $150 billion a year. America lags behind our peers in other countries in collecting the beneficial ownership information that helps us to go after these anonymous companies that are exploiting the most vulnerable in our society. Mr. Speaker, my amendment further simplifies the reporting process, and prevents identity theft and fraud. It creates a fast-tracked process for beneficial ownership where any citizen who is a frequent investor can be pre-verified. I am glad to see my amendment included in this underlying bill today. Mr. Speaker, I urge my colleagues to join me in voting ``yes'' so that Congress can finally close the loopholes that allow criminals to rapidly move money and conceal illicit profits in the U.S. banking process.

Mrs. WAGNER

Mrs. WAGNER. Mr. Chair, I thank the gentleman from Michigan (Mr. Huizenga) for yielding his time. He has been a terrific leader on capital markets and has been serving in his capacity as we try and work hard for that low- and middle-income investor, that Main Street investor who is so important that we finally get some regulation and some guidance in place that is going to make sure that they are getting the information that is going to help them make good investment and savings decisions that are truly in the best interest of that consumer. The gentleman from Michigan (Mr. Huizenga), the ranking member of the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, is absolutely right. Since my very first year in Congress 7 years ago, I have been fighting for that Main Street investor. I have been fighting to make sure that the best interest of that investor is in place. This is not about Wall Street; it is about Main Street. It is about taking care of the low- and middle-income consumer. And the SEC has been dealing with this fiduciary rule and with the best interest standard for years and years and years. Mr. Chairman, we have studied it. We have had countless comment periods. It has been litigated. The investor testing has been done. Years and years have gone into this moment where the SEC is finally ready and has, in fact, moved forward with the best interest standard. The difficulty with this piece of legislation, H.R. 1815, is it is, frankly, just a political ploy, Mr. Chairman, a political ploy that is an attempt to stop the rule in its tracks, one that is going to take care of those that need the kind of support from their broker-dealer the most. It is important that we finally have this issue back in the jurisdiction of the SEC where it belongs. It is time that this rule move forward and that we look out--all of us--for the best interest of our retail investors. Let's let this go forward and stop the political ploys.

Mrs. WAGNER. Mr. Speaker, may I inquire how much time is remaining?

Mrs. WAGNER. Mr. Chairman, I have an amendment at the desk.

Mrs. WAGNER. Mr. Chairman, let me just say, I have been working on this issue and fighting for the retail investors for all 7 of my years here in Congress with several pieces of legislation to bring this to fruition and to always, always hold that retail investor in the best interest to make sure that we are taking care of them and giving them the best advice, the best access, the best cost, but most of all that we secure their savings and their retirement investment and do everything we can to serve in their best interests. And that is why we must bring this after 7 long years to a close. It is time that we stop playing rope-a-dope with duplicative rules that have already been under consideration and by conducting extensive investor testing that has already been done. The SEC is the absolute body of jurisdiction. They must harmonize with the Department of Labor, and have, and now we have got a short, two-form page. We have got disclosures and titles that are clear that is serving the best interests of our constituents. I would ask everyone to consider my amendment to H.R. 1815, and if it is not agreed to, to oppose the underlying bill. Mr. Chair, I yield back the balance of my time.

Mrs. WAGNER. Mr. Chairman, I demand a recorded vote.

Mrs. WAGNER. Mr. Chairman, I yield such time as he may consume to the gentleman from Michigan (Mr. Huizenga), the ranking member of the Investor Protection, Entrepreneurship, and Capital Markets Subcommittee, my friend, to speak in support of the amendment and in opposition to the underlying bill.

Mrs. WAGNER. Mr. Chairman, I rise in support of my amendment to H.R. 1815, which would apply the bill's additional investor testing requirements only to disclosure documents developed after January 21, 2021. If enacted, this legislation would hinder the implementation of important rules designed to better protect Main Street investors, particularly, the SEC's Regulation Best Interest rule. This rule has been in effect since September 10, 2019, but it has a compliance date of June 30, 2020. If further and ongoing testing were required, it would onerously roll back and delay further--after 7 years of testing, debate, deliberation, comment periods, litigation, it would only roll back and further delay, Mr. Chairman, all of the SEC's efforts to better protect those retail investors. The bottom line is that this legislation is duplicative for rules already under consideration. The SEC has already conducted extensive investor testing of the proposed Form CRS, a component of the Regulation Best Interest rule. This is nothing, Mr. Chairman, but a political ploy, rope-a-dope, more neglect in not doing the work of the people. It does not serve those low- and middle-income investors, those constituents of mine in Missouri's Second Congressional District. It makes no sense to go back and conduct repetitive investor testing, leaving broker dealers and their clients--again, there are low- and middle-income investors--without a uniform best interest standard. That is why I ask all of my colleagues to support this commonsense amendment, and if it is not agreed to, to oppose the underlying bill, H.R. 1815, that does nothing but delay and disserve the people that we should be working hard to protect, those low- and middle-income retail investors that are a part of our beautiful and wonderful Main Street districts. I reserve the balance of my time.

Mrs. WAGNER

Mrs. WAGNER. Tens of thousands. It was amazing.

Mrs. WAGNER. As I said, Mr. Speaker, I just thank the gentlewoman from Washington so much for her leadership and that of the USIEA. To go on this journey is wonderful, and we look forward to the future.

Mrs. WAGNER. A first. A promise that was made and kept, finally, by an American President, President Trump. It is great.

Mrs. WAGNER. Mr. Speaker, the economic summit that was pulled together where so many Arabs came and participated was all a lead-up to a peace process and the kind of work that we are seeing that is happening in the West Bank. We hope that it will continue to flourish. The peace process is something that I know that Jared Kushner, our White House, USIEA, the Israeli Government, the Palestinians, and others are working on. It is something that I think will be the basis and the underpinning of the peace process. As we have all expressed, we see people find the humanity, find that all they want is what we all want: to be safe and secure, to take care of our families, to give back to society, to be productive, to be able to worship in the fashion that we choose, and to have some freedom. That is what we hope for Israel long-term. It was just wonderful to be a part of this journey. I look forward to the future, what this administration is going to bring to the table, and to those who will be coming to, I hope, educate our colleagues on the important work that is being done.

Mrs. WAGNER. Will the gentlewoman yield?

Mrs. WAGNER. Mr. Speaker, if I could add one thing while we are having this colloquy in this terrific Special Order, we were all grateful for the opportunity that USIEA gave us. I want to thank--I think we all want to thank--Heather Johnston for her leadership. Thanks to General Krulak for his leadership and their entire team that made this experience possible, that has worked so diligently and so fervently to bring peace to Israel, to put forward the peace process through things like integrated business, to recognize the strong defense ally and partnership that we have with Israel, and that some $3.3 million of U.S. taxpayer funds that we share jointly with Israel in order to lift up their defense system so that we are all safe in this world and, certainly, in this delicate part of the Middle East. So I want to thank those leaders of USIEA and, again, the gentlewoman from Washington for bringing us on this tremendous journey. We hope to share it with many others.

Mrs. WAGNER. Mr. Speaker, ``tell their truth'' is what the Prime Minister said. That is so important. We look forward to it.

Mrs. WAGNER. Mr. Speaker, we hope that he would be coming along with the Judea and Samaria Chamber of Commerce to the United States to also tell their story to Congress and to our other colleagues. Mr. Jabari welcomed us into his home, and we can't wait to welcome the sheikh here to tell this great story of partnership and integrated business and working together.

Mrs. WAGNER. Will the gentlewoman yield?

Mrs. WAGNER. Mr. Speaker, I thank my very dear friend and colleague, Cathy McMorris Rodgers from the great State of Washington, for leading our delegation, for putting this Special Order together this evening, and for including all of us--Dr. Phil Roe from Tennessee, my good friend Bradley Byrne from Alabama, and there have been others--who have made this journey with the U.S. Israel Education Association from both the Senate and the U.S. House. It is just so marvelous to stand in support of the U.S.-Israel relationship, a decades-long partnership that underpins security in the Middle East and promotes democratic flourishing throughout the entire region at a time, sadly, of heightened anti-Semitism that we are seeing across the globe. It is more important than ever that we maintain this strong connection to this very, very key ally of ours in Israel. Israel is deeply invested in achieving peace in the Middle East, and so is the United States of America. We will always, all of us, stand collectively with Israel as they work toward the achievement of this goal. As my good friend Bradley Byrne from the great State of Alabama expressed, in August, we traveled as a delegation and had the opportunity to go to Israel with the U.S. Israel Education Association and my colleagues. We saw firsthand Israelis and Palestinians working together to promote peace and harmony. We visited the capital of Samaria, which Bradley Byrne talked about, which was Ariel, a town where we saw Palestinians and Israelis working together in a true, integrated business fashion. We spoke to both Jews and Arabs who yearn for peace and prosperity for the region. We explored an industrial park that has upwards of 200 businesses where Palestinians were, indeed, working alongside Israelis. We spoke with those employees. Many of the Palestinians told us that they were making somewhere between three and four times what they would otherwise earn if they didn't have this opportunity to have the integrated business that we saw going on in Ariel. To provide for their families, and live in peace and harmony, they were standing up to what I would call strong, divisive forces that seek to vilify Israel and undermine its credibility as a force for peace. Yet, it is clear that both sides want to find a solution to the bloodshed and to the hate. People-to-people connections--and my friend Congressman Byrne said it so clearly and eloquently--between the Israelis and Palestinians are building blocks of the entire peace process. I am confident that both communities are working together to improve a mutual understanding and expand economic prospects for all citizens. We did so many things in the area of defense, our common defense with Israel, getting to see some of the amazing work that the Israeli defense organization, working in conjunction with the United States of America, was able to do, especially when it came to the Arrow-3 test that we saw, which was just so fantastic. It just happened this last July. That would take out a long-range ballistic missile and keep us all safe. We also got to meet with Prime Minister Netanyahu. We had a long discussion about the West Bank and about the time that we spent there inside the West Bank, watching Israelis and Palestinians working together in this integrated fashion. I asked the Prime Minister: Wow, so many of the myths have been debunked. I want to go back with this information, talk to my colleagues, and talk to my constituents. What should we say? The Prime Minister said: Tell their truth. I will also say this: With Iran working to destabilize the region and threaten Israel through dangerous terrorist proxies that we have seen in Hezbollah and Hamas, it is essential that we stand together with our ally. I am committed, and I know that we all are, to protecting our critical relationship and strengthening the ties between the United States and Israel. I also find it especially concerning that anti-Israeli actors are seeking to delegitimize and isolate the State of Israel through the Boycott Divestment and Sanctions, or BDS. I was very proud to introduce legislation, H. Res. 246, with Representatives Schneider, Zeldin, and Nadler, a true bipartisan effort that expresses Congress' strong support for Israel and condemns the BDS movement. I am happy to say that H. Res. 246 has been agreed to in the House with a vote of 398 in support. I hope this sends a clear message of support to the people of Israel and also to those who would maybe seek to undermine it. We, in Congress, stand with Israel. We will continue to work to strengthen and deepen ties between our nations. I am just so pleased that I had this incredible opportunity to see business, peace, prosperity, hope, and real people who found their humanity and want to live together in peace and harmony. To be with these good people and to be on this journey that was one of policy, one of defense, it was also a spiritual journey that I think lifted us all up, heartened us, and strengthened us. Mr. Speaker, I thank the gentlewoman from Washington State, my dear friend, Cathy McMorris Rodgers, for leading us in this journey and for her continued leadership in the work that we are going to do to promote integrated business. I look forward to her comments and those of Dr. Phil Roe. I am so grateful to USIEA for this tremendous opportunity.

Mrs. WAGNER

Mrs. WAGNER. Mr. Speaker, I have a further parliamentary inquiry.

Mrs. WAGNER. Mr. Speaker, I urge that the Speaker and the majority leader schedule the bill on the floor immediately to protect victims of sexual assault.