macleginn/stanford_congress_record_longer_speeches huggingface dataset:
Date: 1986-09-22
Speaker: DE LA GARZA (democrat)
Chamber: H

chairman of the full committee. Mr. Speaker. this is a very modest bill. This goes part way in what I believe we need to do if we are going to address the problems we have at this time. In being competitive in interna tional markets. I have been in business -myself. When you are in a competitive market. if you are really going to compete you try to furnish your customers with a product which they would prefer to buy compared to that of your competitors. At this time. it is no secret that the Canadians clean their wheat so that it is cleaner than the wheat we ship. I see no excuse for that. Mr. Speaker. The problem I believe is. Mr. Speaker. that we have failed to adjust our thinking to the fact that we are now in a buyers market instead of a sellers market. We are. indeed. losing sales. as is well documented. in the international market. I believe what we have to do ultimately is give financial incentives to our exporters to see that they provide for the needs of our customers in a better manner than do our competitors from foreign countries. This is going to be quite a challenge. I think it is a challenge that those that follow me here in the Congress are going to face. I only hope that we do not wait too long to recognize the change that has taken place as we have moved from a sellers market to a buyers market. and that we adopt our thinking properly and our policies properly to address that change.
Date: 1986-09-22
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks on H.R. 5407. the bill just passed.
Date: 1986-09-24
Speaker: DE LUGO (democrat)
Chamber: H

Mr. Speaker. I rise in support of approval of the conference report on the Higher Education Act Amendments of 1986. While- I regret that we could not be more generous in authorizing these programs. I. believe that. passage of the proposal before this body today will reaffirm Congress commitment. to assuring access to higher education. I am particularly pleased to note that. in. referring to the definition of "historically black colleges. and universities" under title III. of the. act. the conference report specifies that the definition includes "many Institutions * * * at least one established as late as 1963". The College of the Virgin Islands: is one such institution. The College of the Virgin Islands was created to serve the needs of the U.S.. Virgin Islands community. This is a primarily black community. and the school was created to offer an access to higher education previously unavailable- to the native West Indian residents of the territory. The school has done. and continues to do. a commendable job in this. regard. It fits squarely within the objectives of the part B setaside. Its student body has historically been primarily black. and is expected to be in the future. Unfortunately. earlier definitions of historically black institutions had excluded the College of the Virgin Islands because it was created after the landmark civil rights case. Brown versus The Board of Education. Yet. the colleges function has been the same as those institutions: to provide quality postsecondary education to black students with limited access to other Institutionsof higher learning. I thank the gentleman from California. Chairman HAWKINS. the gentleman from Michigan. BILL FORD. chairman of the conference committee for their role in making clear that the College of theVirgin Islands is:included under the part B setaside. I appreciate their understanding of the Importance of the college to the future of the U.S. Virgin Islands and their care in assuring that black students in that part of the country benefit from the same consideration as their mainland counterparts.
Date: 1986-09-25
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. this isoa very difficult situation for us because we would have rather had this issue addressed in the proper committee of jurisdiction and the Committee on Agriculture. but unfortunately. the issue was brought up in another forum. We appreciatevery much that the gentleman from Massachusetts . who initiated the original amendment. has been agreeable and cooperative. yet insisting on the issues that the gentleman feels so strongly about. The fortunate thing about it is that we basically agree with the concerns that he has and we have endeavored to arrive at some reasonable agreement. Not everyone is in accord. There are some who will not be happy with the agreement. but under the situation that we find ourselves in. under the parliamentary situation that we are In today. this is the best that we could do under the circumstances which confront us. I wish to thank all who have cooperated in the endeavor. Like the distinguished chairman of the Committee on Appropriations says. of course. we would like to have further study. but I think that counsel on both sides have worked diligently and we have to curtail some. at least the perception. of abuse. at least the perception of possible loopholes. I think that this will do that. Legislation is the art of the possible. This is what is possible in this situation. I thank the gentleman for yield-. ing to me and for his cooperation in this endeavor.
Date: 1986-09-26
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Speaker and my colleagues. this bill was referred sequentially to the Committee on Agriculture. We studied it and we have one proposed amendment which would allow equity for agriculture as far as immigration officers coming on the land without a warrant. The socalled SchumerBermanPanetta compromise. we looked at it and we found out that it was adequate in an inadequate way. but yet. under the art of the possible. it was the best that we could do. and the committee decided to go along with the compromise. So I have a difficult situation in that I have concerns about other parts of the legislation. But as far as the Committee on Agriculture and the responsibility which I have there. we are satisfied that the legislation is adequate. and I would suggest that we vote for the rule in that respect.
Date: 1986-09-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I move to suspend the rules and pass the bill to transfer the Community Development Credit Union Revolving Loan Fund to the National Credit Union Administration and to authorize the National Credit Union Administration Board to administer the fund.
Date: 1986-09-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I have long criticized the financial industry for rolling out the red carpet for affluent customers while slamming the door on the poor and elderly with costly fees and skyhigh minimum balance requirements. Worse yet. branch closings in socalled unprofitable areas are leaving customers bankless. Neighborhood groups are fighting back by opening Community Development Credit Unions. or CDCUs. These CDCUs meet the needs of lowincome customers by offering free banking. small business loans. and many other community services. To support such efforts. the Congress in 1980 authorized $7.1 million in revolving loans to CDCUs. Since then the program. administered by HHS. has helped 42 new and existing credit unions. A $100.000 loan enabled a poor neighborhood in San Franciscos Chinatown to open a CDCU now boasting over 1.000 members and $1 million in assets. Quite a return on a small investment. Despite its success. the administration wants to kill the fund. leaving 400 CDCUs out in the cold. Today. I urge my colleagues to support H.R. 5554. the Community Development Credit Union Revolving Loan Fund Transfer Act. which will protect the fund by putting it under the jurisdiction of the National Credit Union Administration. Cleary. these funds are better administered by the agency of Government that is given the basic responsibility for credit unionsNCUA. The transfer of funds. as proposed by the KapturGarcia bill. is both good Government and good credit union policy. A vote for this bill is a vote for banking services for all of our citizens.
Date: 1986-09-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I yield such time a she may consume to the gentlewoman from. Ohio . the other sponsor of this leg-. islation.
Date: 1986-09-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on the bill just passed.
Date: 1986-09-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I move to suspend the rules and pass the bill to improve the quality of examinations of depository institutions. and for other purposes. as amended.
Date: 1986-09-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I yield myself the remainder of my time. Mr. Speaker. I want to commend the gentlemen who cosponsored the legislation. who worked so diligently on the legislation. I. too wish to call for adoption of the legislation. I think that it is a piece of legislation that is necessary at this time because of the state of our financial industry. and I hope that the support will be as unanimous as possible.
Date: 1986-09-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on the legislation just considered.
Date: 1986-09-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. reserving the right to object. as chairman of this committee I am a little chagrined at the fact that I was not consulted about this action. For that reason. at this point I do object until we can have further conversations on it.
Date: 1986-10-06
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Speaker. I move to suspend the rules and pass the bill to amend the Farm Credit Act of 1971 regarding interest rates charged by Farm Credit System institutions and financial operations of such institutions. as amended.
Date: 1986-10-06
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Speaker. I yield myself such time as I may consume. . Mr. Speaker and my colleagues. at the outset. let me say that this. in effect. is emergency legislation to assist the institutions of the Farm Credit System. It is legislation that I would truthfully prefer we did not have to pass. Unfortunately. we do. I know of no other route that we might take to address the current problems facing the Farm Credit System. with the exception of going to the Treasury for assistance. which I doubt that we could do at this time under the budget constraints we find ourselves. This bill is a way by which we are able to assist the System. at least in a temporary way. subject to approval and under conditions set forth by the Government regulatory agency. that Is the Farm Credit Administration. With this bill. we will allow the System institutions to provide for bookkeeping changes and to. in effect. extend the length over which they can repay their debt or repay the losses which they have accumulated. Also. the bill will provide the System Institutions with flexibility in setting interest rates they charge their former customers. That. Mr. Speaker. is basically the intent of the legislation. It is compromise legislation. bipartisan legislation. We have worked to get a compromise with the administration. with Treasury. and with the regulatory agency. and everyone concerned. I can report that. as to all directly interested parties. either they are In accord or they are not objecting to the legislation. taking a handsoff attitude. I would hope that our colleagues would see fit to assist us with this legislation because it is a very necessary step that needs to be taken promptly before we conclude this session of the Congress. Mr. Speaker. I reserve the balance of my time.
Date: 1986-10-06
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Speaker. I move to suspend the rules and pass the bill to authorize the construction by the Secretary of Agriculture of a salinity laboratory at Riverside. CA.
Date: 1986-10-06
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks on the bills. S. 1935 and H.R.
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I move to suspend the rules and pass the bill to provide for the uniform disclosure of the rates of interest which are payable on savings accounts. to provide for detailed and uniform disclosures of information on interest rates and other fees in applications and solicitations for credit cards. and for other purposes. as amended.
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. for too long. the American consumer has been victimized by deceptive. confusing. and complex advertising about savings accounts. H.R. 5613. reported by the Banking. Finance and Urban Affairs Committee on a 38to10 vote. remedies this situa. tion and requires that financial Insti. tutions give their customers clear. pre. cise Information about the interest rates and other terms on all savings instruments. The. legislation also contains provisions which will require Issuers of credit cards to inform the credit card applicant up front about all the terms of the credit card contract. Under current law. consumers are not told about the termsinterest rates. annual fees. method of billing. and similar Itemsuntil after the fact. after the card has already been issued and fees Imposed. Mr. Speaker. both the Truth in Savings and credit card provisions provide the consumer with essential Information to make Intelligent decisions in the marketplace. Mr. Speaker. the House should put an end to the deceptive hideandseek games that financial institutions play against their customers on savings accounts and credit cards. The House has an opportunity today to send a very clear message that it wants the American consumer to be given the full truth on essential financial services.
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I yield myself such time as I may consume. Mr. Speaker. I would like to conclude this debate by once again commending the gentleman from California and the gentleman from New York for their tireless efforts. Certainly. there are many of us. I would say to the gentleman from New York who would like to have seen a cap. but let us not kid the American people. it is not in the cards. so to speak. to have a cap put on interest rates on credit cards at this point in time. I will tell the gentleman that I will be very happy. as chairman of this committee. to do my utmost. I voted for a cap in the subcommittee. to put a cap on. All he has to do is to importune the other members of the Committee on Banking. convince them that a cap is in order. and I will see to it that that legislation is reported out. We have to work with what we have got. I say to my colleague. and when you do not have the votes for a cap. you go along with this wonderful disclosure legislation. as authored by Mr. SCHUMER. I think it is absolutely fantastic. A cap would be better. sure. but unfortunately life is not perfect.
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks. and to include extraneous matter. on H.R. 5613. the bill just passed.
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I move to suspend the rules and pass the bill to provide for the stability of the domestic banking and thrift systems. to improve housing. to protect the American consumer of financial services. and for other purposes as amended.
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

I thank the gentleman for yielding. Mr. Speaker. I assure the gentleman from Connecticut I could not forget the existence of that problem. There was no substantive debate on the South Dakota provision and in the minds of a number of members the vote was primarily an attempt to develop the least controversial bill possible.
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

May I interpolate what the gentleman is saying is that we do not intend to accept a whole basketful of additions from the Senate?
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I yield myself such time as I may consume. Mr. Speaker. I shall conclude the debate today on H.R. 5576. The legislation before us has four titles. as indicated: A title to recapitalize the FSLIC Insurance Fund. a title to allow for interstate acquisition of failed or failing financial institutions. title 3. the Expedited Funds Availability Act. and title 4. the Housing Act of 1986. Two of these titles have already passed the House. The Expedited Funds Availability Act passed the House on January 23. 1986. by an overwhelming vote of 282 to 11. No actionhas been taken on this legislation by the other body. H.R. 1. the Housing Act of 1985. passed the House on June 12. 1986. by the overwhelming margin of 340 to 36. No action has been taken on this legislation in the other body. In combining the Expedited Funds Availability Act and the Housing Act and the other two titles of this bill which passed your Banking Committee on September 23. by an overwhelming vote of 47 to 1. your Banking Committee. and shortly this House. will again. in my opinion. overwhelmingly voice its support for enactment of an expedited funds availability bill. a housing bill. and two bills requested by the administration. Your Banking Committee hopes to be in conference on this legislation with the Senate Banking Committeeon all four titlesI repeat. on all four titles. The integrity of the House Is at stake. More importantly. the public interest demands a meaningful conference on all four titles. I commit to the Members of this body. as I know most if not all members of the Banking Committee do.. that all four titles of this bill will be in conference and meaningful and viable legislation will be reported back to this House from this conference. Excessive holds on consumer deposits are a national disgrace. The continued lack of minimal housing programs is totally reprehensible. Today I call on the House to speak again in unmistakable terms.
Date: 1986-10-07
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks on H.R. 5576. the bill just passed.
Date: 1986-10-08
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. it is well established that the international crime syndicates depend on access to the legitimate financial institutions of this Nation. The Presidents Commission on Organized Crime. in its testimony before the Banking Subcommitteee on Financial Institutions confirmed that drug dealers have to have access to financial institutions in order to carry out the illicit sales of drugs in the United States. conservatively estimated to be between $50 and $75 billion each year. Title I. subsection H of the omnibus drug bill. slams the door shut on the use of banks and other financial institutions to launder funds derived from drug trafficking. This section of the bill which is. in essence. H.R. 5176 as reported by the Banking Committee on July 22. 1986. by a vote of 47 to 0: It subjects to criminal liability anyone who willfully structures a transaction in order to evade the reporting requirements of the Bank Secrecy Act. It authorizes the seizure and forfeiture of cash. or property related to such -cash. for any individual who willfully structures a transaction. It authorizes the seizure and forfeiture of cash. or property related to such cash. for any individual who willfully evades the reporting requirements. It enhances the detection and prevention of money laundering schemes by improving regulatory agencies supervision over financial institutions. It requires the banking agencies to conduct thorough investigations of individuals and others acquiring financial institutions. It provides the Secretary of the Treasury with civil summons authority to assist in carrying out Bank Secrecy Act responsibilities. It provides a substantial increase. in criminial penalties by increasing the maximum $500.000 under current law to up to $1.000.000 for an individualand up to $5.000.000 for a financial institution. Mr. Speaker. the banking title of the omnibus drug bill is primarily designed to detect and prevent drug traffickers from using financial institutions for their illgotten profits. The Banking Committee has had a longstanding interestsince at least 1970in pursuing this subjecL The Banking Committee conducted extensive hearings within the past year into violations of the Bank Secrecy Act provisions. Just recently. we began to hear rumbling from the banking community concerning certain provisions of the banking title contained in this bill. These rumblings are totally without merit and again indicate that industrys tendency to avoid its legitimate responsibilities and to look the other way when drug traffickers walk into the doors of their banks to deposit their profits. This legislation demands that the banking industry not only do more than pay lip service in fighting the epidemic drug crisis that pervades this country. Now is their opportunity to show good faithto do less is unconscionable. Mr." Speaker. I am pleased to say that we have had the full cooperation of other committees in working out our banking title. We wish to especially thank the Ways and Means and the -Judiciary Committees for their cooperation in this effort.
Date: 1986-10-08
Speaker: DE LUGO (democrat)
Chamber: H

Mr. Speaker. I rise in support of the Omnibus Drug Enforcement. Education. and Control Act of 1986. By its terms. this bill recognizes that discussions of deficits and budget control must be setaside in the face of a situation which has become epidemic and which will have the greater impact on our future if not confronted today. As leaders and Representatives we must tackle the problem that has left homes in this country stunned and broken. We must recognize today. that drug abuse will destroy this country unless we move forcefully to bring it under control. The problem is not less critical in the U.S. Virgin Islands than in the country at large. Apart from being used as a transshipment point for drugs and weapons. an alarming amount of the cocaine. marijuana. and heroin destined for the mainland is distributed in the territory. Out of its limited resources. the local government has established a narcotics strike force. Unfortunately. the strike force is underfunded to the point of futility. Funding included in the proposal before this body today can radically improve the contribution the Virgin Islands can make to stemming the flow of drugs into this country. The $3 million targeted for drug enforcement in the territory will assure that the waters are patrolled by radar equipment and boats. it will allow the strike force to increase its manpower. it will mean that the Virgin Islands are no longer fair game in the drug transport chain. Another important aspect of the proposal are the funds targeted for drug abuse prevention in the Virgin Islands. Certain organizations have demonstrated their success in helping youngsters in the local community. and the $1 million targeted for drug prevention in the territory will allow these organizations to broaden their reach. Equally important is the inclusion of the Virgin Islands. Guam. American Samoa. the Northern Mariana Islands. and Puerto Rico in national enforcement and education programs. I am particularly encouraged by the authority granted to Federal enforcement officials to employ the services of local enforcement officials. This assures that local expertise will be incorporated into the Federal effort. and that redundancy and conflict may be reduced. This is solid. timely legislation. I urge my colleagues to vote in favor of passage.