… and enforce on non banks were extrapolations that were quite novel from anything that you had ever passed. So our issue is not whether we're willing to regulate non banks. The issue is the extent to which the legal theories and the statutes do not allow, and that need to go through Congress as the extent to which we need to have that debate here in the people's House. We did have that debate. We passed, I voted for, and we passed the Dodd Frank Wall street reform bill that gave you authority to deal with non bank lenders. (04:17–04:28)
CLAIM
Asserts that current legal theories and statutes may not allow certain regulatory actions without Congressional debate.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
