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Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) spoke on the House floor today in favor of H.R. 685, the Mortgage Choice Act, and other bills from the House Financial Services Committee to help Americans achieve financial independence.

McCarthy’s remarks are below, or watch the full speech online here.

“Thank you, Mr. Speaker, and I thank the gentleman for yielding.

“First off, I will not be long. I know you have a number of members who want to speak for this bill. But before I begin, I want to thank the Financial Service Chairman Hensarling for the good work he and his committee that have been working throughout, not only this bill, but numerous bills this week.

“This whole week, the House will be voting on bills to promote a healthier economy, preserve consumer choice, and help people become financially independent.

“You know, Mr. Speaker, it’s an ironic thing here in Washington when some laws that are passed hurt more than they actually help. I truly think everyone in this body wants to do what is best for the American people. But that’s not how things always turn out.

“There are some in this body who—whenever a problem comes around—their gut reaction is to add more regulations, costs, and red tape. For some reason, they think paperwork can solve all of our problems. 

“And that’s exactly what happened with Dodd-Frank. Washington tried to solve a problem by regulating the big guys. But all they succeeded in doing is hurting the little guys.

“When you look around, who is getting hurt most by Dodd-Frank? It’s credit unions and community banks. More importantly, it’s lower income families who can’t get the loans they need because one-size-fits-all regulations are blocking them. 

“We need to give people in this country and institutions that serve them space to live and space to grow. The Mortgage Choice Act, and so many of the bills that we’ll see on the floor this week, help open up that space. 

“I want to thank Representative Huizenga (MI-02) for being a champion on this legislation to give the American people the room they need to achieve their dreams. So let’s get behind the American people and help them reach financial independence by supporting this bill.

“I yield back.”