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the purpose of the wrong choice bill. it s just it s between the many and the money and this wrong choice act stands firmly on the side of those who would line their pockets in the top 1%. the chair: the gentleman s time has expired. the gentlelady reserves. the gentleman from texas is recognized. mr. hensarling: mr. chairman, i m happy now to yield one minute to a real workhorse of the financial services committee, the gentleman from maine, mr. poliquin. the chair: the gentleman is recognized for one minute. mr. poliquin: thank you very much, mr. speaker. thank you, mr. chairman. mr. speaker, i represent the most honest, hardworking families in this country in the great state of maine. i also represent tens of thousands of small business owners in our state that create thousands and thousands of jobs for our families. and you know, in the state of maine, mr. speaker, we know the difference between right and wrong, and it is wrong to force taxpayers to bail out huge wal ....
family farm. the big banks don t pay attention to that, only community banks do. a couple years later with the help of these kinds of loans from these local banks, these so-called pipe dreams in these small towns and rural counties become successful businesses. they become job creators. these are the ultimate success stories that our communities in america are built upon. this is why the financial choice act is so important. it helps community banks and the small business that is absolutely depend on them, it helps them thrive. it protects consumers by increasing accountability and transparency over the wider financial sector. and it also repeals too big to fail. the rules codified by dodd-frank that have left taxpayers on the hook for too long. ultimately the financial choice act is a jobs bill. it is one that will bring hope back to main street. it is easy to talk about the economy and regular regulations as series of numbers. it is easy to talk in vague terms abo ....
we ll show you that debate with comments from house speaker, paul ryan. small businesses are struggling. invest, or get the loans need to get ohe ground. families looking to keep their money safe are hit with fees they can t afford. why is this? our community banks are in trouble. they are being crushed by the costly rules imposed on them by the dodd-frank act. this law may have had good intentions, but its consequences have been dire for main street. let me put it this way. it is more than 1,000 pages long and has more rules and regulations than any other obama era law. the burdens created are real and deep. these costs are unsustainable for small community banks who simply cannot afford to meet all the requirements and can t hire a team of lawyers to decipher the seemingly endless rules. what do they do? they hunker down, they are unable to loan out money, or worse, they are shutting down. the choice act reins in dodd frank. it delivers the regular toward relief these ....
financial services like check cashi cashiers and payday lenders were oh bad why so many were using them. i learned banks were not serving the middle class and the low end and i realized there were good alternatives coming on and i wanted to tell the story. it is the first book i have written that is not an academic book. i wrote it for policymakers people working in the financial industry and people like you and me who may or may not be happy the consumer financial services they are currently using. let s talk a little bit about what you mean by alternative financial service providers. what is that? why do you call it alternative? guest: i see the consumer financial industry being three components one the mainstream, which is banks and credit krunts. the second is alternative, payday lenders, rent to own shops, pawnshops and they are growing as technology grows. the third is inform financial services which are not on the map but used by many, many americans. host: ....
first, how the new method of banking are serving consumers. she is interviewed by a senior fellow at the confederation of america. host: welcome to booktv. today i will be talking to profess professor lisa servon. a professor from the university of pennsylvania and the author of the unbanking of america: how the new middle class survives which was just released this month. guest: thanks for having me. it is great to be here. host: why did you write the book and who is it written for? guest: that is a great question. i wrote the book in a nutshell because i could not understand why lenders today were bad today. in the course of my research, which took a few years, i learned that banks were naughot really serving the low end and increasingly the middle class. i realized there were good alternatives coming onboard and i wanted to tell that whole story. i read for people in the financi financial services business and people who may not be happy with the current ....