Williams Weekly

Dear Texans,

The House of Representatives spent the week working on important issues facing our state, our nation, and the world. Rest assured, I am fighting each day to keep our communities safe and uphold the values of our district. Read below for an update on my work serving you.

House Sends Resolution Condemning the CFPB’s Attack on Main Street to President's Desk

On Friday, the House passed S.J. Res. 32, the Senate companion to my legislation, H.J. Res. 66, disapproving of the Consumer Financial Protection Bureau’s (CFPB) Section 1071 Small Business Data Collection Rule. During a time where small businesses are facing crushing inflation and increasing borrowing costs, this bill will put an end to the CFPB’s broad, burdensome, and difficult to implement rulemaking. Biden has stated that he will veto this bipartisan bill, allowing the CFPB’s relentless attack on Main Street to continue. It is now Biden’s turn to listen to the American people and sign this bill into law instead of bowing down to out of touch unelected bureaucrats. Watch my testimony in the House Committee on Rules and my opening statement on the House floor. Read my full release here.

Financial Services Committee Hearing

For the past 6 months, I have been consistently hearing from small businesses and community bankers in our district and across the country on how unprepared and terrified they are about the CFPB’s Section 1071 Small Business Data Collection Rule. Small lenders are concerned that the complicated reporting requirements, which add 81 new data fields, will tie up loan officers and increase compliance costs, ultimately forcing them to pass these costs down to their customers. During the hearing, CFPB Director Chopra agreed to listen to the American people and end this attack on Main Street if the CRA is signed into law. Watch my line of questioning here.

Restoring Integrity in SBA Lending Programs

No one who has been convicted of defrauding the pandemic lending programs should ever be given the opportunity to access future financial assistance programs. My legislation, H.R. 5427, passed in the House, will protect the integrity of SBA lending programs from bad actors. There’s much more work to be done to correct the issues that allowed these unacceptable levels of fraud to occur in the first place, but this legislation is an important step in rebuilding confidence in the agency. Read my full release here.

In God we trust,

Roger Williams

Member of Congress