J. French Hill
Representative for Arkansas · Republican · United States
“``(2) Selection of economic indicators.--Not later than 3 months after the date of enactment of this section, the Board of Governors shall-- ``(A) complete a study on the advantages and disadvantages of the use of either nominal United States gross domestic product (as published by the Department of Commerce) or the Consumer Price Index (…”
“``(2) Selection of economic indicators.--Not later than 3 months after the date of enactment of this section, the Board of Governors shall-- ``(A) complete a study on the advantages and disadvantages of the use of either nominal United States gross domestic product (as published by the Department of Commerce) or the Consumer Price Index (…”
“(B) Selection of economic indicators.--Not later than 3 months after the date of enactment of this Act, the Board of Governors of the Federal Reserve System shall-- (i) complete a study on the advantages and disadvantages of the use of either nominal United States gross domestic product (as published by the Department of Commerce) or the…”
“(B) Selection of economic indicators.--Not later than 3 months after the date of enactment of this Act, the Board of Governors of the Federal Reserve System shall-- (i) complete a study on the advantages and disadvantages of the use of either nominal United States gross domestic product (as published by the Department of Commerce) or the…”
“(2) Guidance.--The term ``guidance'' means a financial agency statement of general applicability, intended to have a future effect on the behavior of regulated parties, that sets forth a policy on a statutory, regulatory, or technical issue, or an interpretation of a statute or regulation, but does not include-- (A) a rule promulgated pur…”
“(2) Guidance.--The term ``guidance'' means a financial agency statement of general applicability, intended to have a future effect on the behavior of regulated parties, that sets forth a policy on a statutory, regulatory, or technical issue, or an interpretation of a statute or regulation, but does not include-- (A) a rule promulgated pur…”
The complete record
Every one of 768 lines we hold for J. French Hill, in date order, each linked to its source. Free to read, in full, without an account. Page 12 of 16.
“Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 6556) to prohibit the use of certain concentration limit exceptions with respect to mergers involving a failed bank unless the applicable agency determines such use is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and for other purposes, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 6556 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Failing Bank Acquisition Fairness Act''. SEC. 2. CONCENTRATION LIMIT EXCEPTIONS ONLY AVAILABLE TO AVOID SERIOUS ADVERSE ECONOMIC OR FINANCIAL EFFECTS.”
“The question is on the motion offered by the gentleman from Arkansas (Mr. Hill) that the House suspend the rules and pass the bill, H.R. 3074, as amended. The question was taken; and (two-thirds being in the affirmative) the rules were suspended and the bill, as amended, was passed. The title of the bill was amended so as to read: ``A bill to direct the Secretary of the Treasury to stop minting the penny, to permit cash transactions to be rounded up or down to the nearest five cents, and for other purposes''. A motion to reconsider was laid on the table. ____________________”
“Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, I thank the gentleman from Massachusetts and the minority for helping to make this a strong bipartisan bill to do something that is common sense, with no pun intended. In fact, for all of the good reasons that Mr. Lucas and Mrs. McClain outlined, this is the right decision at the right time for the American people. Mr. Speaker, I remind both the bankers across the country, the retailers, and all of the consumers out there that, as noted by Mr. Garcia, there are well over 100 billion pennies floating around out there in jars and drawers and cash registers across the country. You may still use those pennies until your heart is content. Mr. Speaker, I urge a ``yes'' vote on this bill, and I yield back the balance of my time. The SPEAKER pro tempore.”
“Mr. Speaker, I yield 3 minutes to the gentleman from Oklahoma (Mr. Lucas), our chairman of the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity. In my experience of being chairman of the committee on which he serves, he is a man who always comes to the committee and plans on throwing his 2 cents into every debate.”
“Mr. Speaker, I yield 3 minutes to the gentlewoman from Michigan (Mrs. McClain), our Republican Conference chair and the author of this bill. I really just ask her for a penny for her thoughts.”
“3074 provides a clear, uniform standard for how these transactions can be rounded, giving businesses certainty and ensuring everyone is playing by the same rules. This bill is about good stewardship of taxpayer dollars. It is about recognizing when government can do things more efficiently, making smart updates where they are needed, and saving money in the process. Mr. Speaker, I urge my colleagues to support H.R. 3074, and I reserve the balance of my time. {time} 1450”
“If we are going to no longer make pennies, people are likely to use more nickels. The problem is that nickels aren't exactly a bargain either and the gentleman from Massachusetts knows it. They cost nearly 14 cents to produce, so we need to make sure we don't solve one problem by creating another one. That is why Mrs. McClain's bill also gives the U.S. Treasury Secretary the authority to move to a lower cost, zinc-based nickel to ensure that increased nickel demand is not mitigating the savings due to the elimination of the penny. The bill also addresses something retailers and consumers are already experiencing. With fewer pennies available, many cash transactions are rounded to the nearest nickel. H.R.”
“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise today on the House floor in support of Republican Conference Chairwoman McClain's bill, the Common Cents Act. This is a simple, common ``cents'' bill aimed at saving taxpayer dollars and modernizing a part of our currency system that no longer makes economic sense. The numbers speak for themselves. According to an audit of the United States Mint, it costs $3.69 to make one penny. That is the 19th year in a row, Mr. Speaker, the government has spent more to make a penny than a penny is worth. Last year alone, taxpayers lost more than $85 million producing pennies. Chairwoman McClain's bill simply codifies President Trump's directive to the Mint to stop producing pennies. Of course, we have to be practical.”
“docs.house.gov/ billsthisweek/ 202607413/ HR3074_SUSxml.PDF --------------------------------------------------------------------------------------------------------------------------------------------------------”
“Mr. Speaker, I include in the Record the CBO estimate for this legislation. EFFECTS ON DIRECT SPENDING AND REVENUES OF LEGISLATION CONSIDERED UNDER SUSPENSION OF THE RULES IN THE HOUSE OF REPRESENTATIVES WEEK OF JULY 13, 2026 -------------------------------------------------------------------------------------------------------------------------------------------------------- Additional Effect on Direct Information on Suspension Bill Bill Number Title Spending Effect on Revenues Direct Spending and Text at Revenue Effects doc.house.gov -------------------------------------------------------------------------------------------------------------------------------------------------------- H.R. 3074........................ Common Cents Act, as Increase by Less None............... ................... ........... https:// amended. Than $500K.”
“Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on the bill. The SPEAKER pro tempore. Is there objection to the request of the gentleman from Arkansas? There was no objection.”
“(2) Financial institution.--The term ``financial institution'' means any person, other [[Page H4434]] than an individual, the business of which is engaging in financial activities in section 4(k) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)) The SPEAKER pro tempore. Pursuant to the rule, the gentleman from Arkansas (Mr. Hill) and the gentleman from Massachusetts (Mr. Lynch) each will control 20 minutes. The Chair recognizes the gentleman from Arkansas. General Leave”
“(2) Successive reports.--The Board of Governors of the Federal Reserve System shall submit to the covered committees and make publicly available 2 additional reports that evaluate the progress described in paragraph (1) on dates that are not later than-- (A) 18 months after the submission of the report required under subsection (a); and (B) 30 months after the submission of the report required under subsection (a). SEC. 6. DEFINITIONS. In this Act: (1) Covered committees.--The term ``covered committees'' means-- (A) the Committee on Financial Services of the House of Representatives; and (B) the Committee on Banking, Housing, and Urban Affairs of the Senate.”
“(b) Evaluation.-- (1) In general.--Not later than 6 months after submission of the report required under subsection (a), the Board of Governors of the Federal Reserve System shall submit to the covered committees and make publicly available a report that evaluates the progress of implementing the strategic plan described in subsection (a), including-- (A) any material changes to the plan; and (B) any identified or emerging stress in the penny distribution system.”
“(a) Strategic Plan and Report.--Not later than 90 days after the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall submit to the covered committees and make publicly available a report that outlines a strategic plan for the acceptance of penny orders and deposits at commercial coin terminals providing services under agreements with the Federal reserve banks nationwide, including-- (1) a description of the Board's approach to limiting disruptions in penny supply and maintaining the stability of and efficiency of the coin distribution system, to the greatest extent practicable; (2) an evaluation of such coin terminals where the Federal reserve banks no longer accept penny deposits or penny orders; (3) an assessment of whether processing penny deposits or penny orders at such coin terminals could mitigate any challenges related to ceasing the production of the penny, including challenges related to the implementation of rounding practices; (4) an assessment by the Secretary of the Treasury, which the Secretary shall conduct and deliver to the Board not less than 60 days after the date of enactment of this Act-- (A) on the impact of penny supply and demand disruptions, and rounding practices for check cashing, on low-income communities, older consumers, debanked, unbanked, and underbanked individuals, including feedback from State or local entities; and (B) that includes recommendations to the Congress to address any adverse impacts identified under subparagraph (A); and (4) any additional considerations the Board determines relevant to maintaining penny distribution stability.”
“(c) Rule of Construction.--Nothing in this Act or of any order thereunder shall excuse noncompliance with any Federal, State, Tribal, or local law, regulation, ordinance, or requirement establishing a minimum wage, providing for overtime pay requirements, or providing for paid leave. SEC. 5. STRATEGIC PLAN AND REPORT ON COIN TERMINAL OPERATIONS AND COIN DISTRIBUTION STABILITY.”
“(a) Federal Law.--Any person selling goods or services in a cash transaction, including a financial institution, entering into any other transaction that results in a payment or transfer of cash between the parties to the transaction shall not be in violation of any Federal requirement, law, regulation, or standard based on the adherence to the cash rounding provisions described in section 3. (b) State and Tribal Law.--Any person selling goods or services in a cash transaction, including a financial institution, entering into any other transaction that results in a payment or transfer of cash between the parties to the transaction shall not be in violation of any requirement, law, regulation, or standard of a State, Tribe, or a political subdivision of a State based on the adherence to the cash rounding provisions described in section 3.”
“(f) Covered Amount Defined.--In this section, the term ``covered amount'' means-- (1) the total transaction amount, including taxes; or (2) in the case of a person selling goods or services in a cash transaction or entering into any other transaction that results in a payment or transfer of cash between the parties to the transaction, the amount of change due to the customer if the customer provides a cash payment that exceeds the total transaction amount, including taxes. SEC. 4. TREATMENT OF FEDERAL, STATE, AND TRIBAL LAW WITH RESPECT TO CASH TRANSACTION ROUNDING.”
“(d) Application.--Subsections (a), (b), and (c) shall not apply to any transaction for which payment is made by any demand or negotiable instrument, electronic fund transfer, check, gift card, money order, credit card, or other like instrument or method. (e) Rule of Construction.--Nothing in this Act may be construed to require any person to round a payment as described in subsections (a) or (b).”
“(2) Down to the nearest amount divisible by 5, if the customer is paying the person in cash. (c) Employer Payments to Employees.-- (1) In general.--With respect to an employer providing a cash payment to an employee in an amount that is not divisible by 5 cents, if the employer chooses to round the amount of cents in such payment, the employer shall round the amount of cents in such payment up to the nearest amount divisible by 5 cents. (2) No rounding requirement.--Nothing in this subsection may be construed to require rounding by an employer described in paragraph (1) who provides a cash payment to an employee in an exact amount.”
“(2) Rounding up.-- (A) In general.--In any case in which the covered amount ends with 3 cents, 4 cents, 8 cents, or 9 cents as the final digit, the amount of cents in the sum may be rounded up to the nearest amount divisible by 5 for any person seeking to make payment with cash. (B) Small transactions.--In any case in which the covered amount totals $0.01 or $0.02, such amount may be rounded up to $.05 for any person seeking to make payment with cash. (b) Additional Authority to Round.--With respect to a person, including a financial institution, conducting a cash transaction with a customer of the person, the amount of cents in the sum of the transaction may be rounded, if such rounding is in favor of the customer, as follows: (1) Up to the nearest amount divisible by 5, if the person is paying the customer in cash.”
“(a) In General.--Any person, including a financial institution, selling goods or services in a cash transaction or entering into any other transaction that results in a payment or transfer of cash between the parties to the transaction may, if exact change cannot be provided at that time of such transaction, round the covered amount in the following manner: (1) Rounding down.--Except as provided in paragraph (2)(B), in any case in which the covered amount ends with 1 cent, 2 cents, 6 cents, or 7 cents as the final digit, the amount of cents in the sum may be rounded down to the nearest amount divisible by 5 for any person seeking to make payment with cash.”
“``(2) No effect on legal tender.--Any one-cent coin that is minted and issued on any date before the date of the enactment of this subsection shall remain legal tender for all debts, public charges, taxes, and dues.''. SEC. 3. CASH TRANSACTION ROUNDING.”
“``(2) Composition.--The Secretary may prescribe the composition of zinc and nickel in the 5-cent coin, subject to testing and evaluation that such composition-- ``(A) reduces the cost incurred to produce such coin; and ``(B) to the greatest extent practicable, has a minimal adverse impact on machines designed to accept coins.''; and (4) by adding at the end the following: ``(bb) Ceasing Production of One-cent Coin.-- ``(1) In general.--Notwithstanding any other provision of law, the Secretary shall cease production of one-cent coins for general circulation, but may continue to produce and issue one-cent coins for sale as numismatic items.”
“Section 5112 of title 31, United States Code, is amended-- (1) in subsection (a)-- (A) in paragraph (5), by striking ``weighs 5 grams.'' and inserting the following: ``weighs-- ``(A) 5 grams, with respect to such coin that is an alloy of copper and nickel; or ``(B) between 4 and 6 grams, with respect to such coin as described in subsection (c).''; and (B) in paragraph (6)-- (i) by striking ``except as provided under subsection (c) of this section,''; and (ii) by striking ``and weighs 3.11 grams''; (2) in subsection (b)-- (A) in the sixth sentence-- (i) by inserting ``either'' before ``an alloy''; and (ii) by inserting ``or a composition described in subsection (c)'' before the period; (B) by inserting ``with respect to such coins that are an alloy of copper and nickel'' after ``nickel required''; and (C) by striking ``Except'' through ``zinc'' and inserting ``The one-cent coin is composed of copper and zinc''; (3) by amending subsection (c) to read as follows: ``(c) 5-cent Coin.-- ``(1) In general.--The 5-cent coin may be a coin with an inner layer of zinc and an outer layer of nickel.”
“Mr. Speaker, I move to suspend the rules and pass the [[Page H4433]] bill (H.R. 3074) to direct the Secretary of the Treasury to stop minting the penny, to require cash transactions to be rounded up or down to the nearest five cents, and for other purposes, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 3074 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Common Cents Act''. SEC. 2. SPECIFICATIONS OF 5-CENT COINS AND CEASING PRODUCTION OF ONE-CENT COINS.”
“Nothing in this Act shall prevent law enforcement from using merchant category codes as part of an investigation relating to an act of terrorism or suspected act of terrorism, or to prevent an act of terrorism. The SPEAKER pro tempore. Pursuant to clause 2(b) of rule XIX, the previous question is ordered on the motion to recommit. The question is on the motion to recommit. The question was taken; and the Speaker pro tempore announced that the noes appeared to have it. Mr. FROST. Mr. Speaker, on that I demand the yeas and nays. The yeas and nays were ordered. The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further proceedings on this question will be postponed. ____________________”
“Pursuant to House Resolution 1423, the previous question is ordered on the bill, as amended. The question is on the engrossment and third reading of the bill. The bill was ordered to be engrossed and read a third time, and was read the third time. Motion to Recommit Mr. FROST. Mr. Speaker, I have a motion to recommit at the desk. The SPEAKER pro tempore. The Clerk will report the motion to recommit. The Clerk read as follows: Mr. Frost of FL moves to recommit the bill H.R. 1181 to the Committee on Financial Services. The material previously referred to by Mr. Frost is as follows: Mr. Frost moves to recommit the bill H.R. 1181 to the Committee on Financial Services with instructions to report the same back to the House forthwith with the following amendment: Add at the end the following: SEC. 3. TERRORISM EXCEPTION.”
“Speaker, the audacity of the opposite side of the aisle to tell States they cannot use these merchant codes, any State in the United States of America, even those who started in some way using these codes, they are now saying they want a law that would preempt your State from being able to use the merchant codes. Mr. Speaker, I yield back the balance of my time. Mr. HILL of Arkansas. Mr. Speaker, I yield myself the balance of my time. I thank my colleagues on both sides of the aisle for this debate. I thank Mr. Moore for writing this bill, drafting it, persuading the support that he has. I urge all Members on both sides of the aisle to support this bill in the name of privacy in the United States. Mr. Speaker, I yield back the balance of my time. The SPEAKER pro tempore. All time for debate has expired.”
“As I conclude, I will point out that when our committee held a hearing last year, none of the majority's witnesses said a single positive thing about this bill in their testimony. That is probably because there is nothing positive to say about this harmful bill. Now, using merchant category codes for firearm retailers won't solve this problem, not even close. The codes themselves don't identify what is purchased, but it might have triggered a flag for unusual and suspicious purchases that get reported to law enforcement. Mr. Speaker, that might save 1 life or 10 lives or 100 lives or 1,000 lives or 10,000 lives. Even if it is a fraction of the 416,000 who have died from gun violence over the past decade, wouldn't it be worth it? Mr.”
“This bill prevents payment networks and financial institutions from requiring special codes for firearms retailers, while preserving existing tools used to combat fraud, protect consumers, maintain cybersecurity, and report suspicious activity. At its core, this legislation is about privacy, fairness, and the principle that the exercise of constitutional rights should never become the basis for surveillance. I thank the chairman and the bill's sponsor for their work on this important issue. I urge my colleagues to support H.R. 1181. Mr. HILL of Arkansas. Mr. Speaker, I reserve the balance of my time. Ms. WATERS. Mr. Speaker, I yield myself the balance of my time.”
“Americans are increasingly concerned about how much information is collected, stored, and shared. Those concerns are especially valid when it comes to information being tracked that relates to the exercise of a constitutional freedom. Here is the reality: Tracking the lawful purchase of firearms and ammunition creates a framework for collecting information about law-abiding citizens who have done nothing wrong. My home State of Florida already prohibits this type of surveillance. Floridians understand something that most Americans agree with: Your bank should process your transaction, not track your activities.”
“It won't tell them that, but it is just a general tool to help us stop some of the worst of the worst mass shootings. Mr. HILL of Arkansas. Mr. Speaker, I yield 2 minutes to the gentlewoman from Florida (Ms. Lee). Ms. LEE of Florida. Mr. Speaker, I rise today in support of H.R. 1181, the Protecting Privacy in Purchases Act. The Second Amendment is a constitutional right. Americans should not have their lawful purchases singled out simply because they choose to exercise that right. This bill stops efforts to create a special system for identifying and organizing purchases made at firearm and ammunition retailers. {time} 1550 While its proponents present this as simply an administrative tool, in practice it raises serious concerns about privacy and the unjust treatment of lawful conduct.”
“Speaker, I think it is important to say because we hear over and over from our colleagues about the Constitution: If using merchant category codes violated the Fourth Amendment, where is your bill on amending this for every purchase at a pharmacy, liquor store, or casino? This is a standard accounting tool that is used by banks. This argument, unless you are going to follow it up with legislation to essentially make it illegal to track and have the same codes, which is just a four-digit number, for pharmacies, casinos, liquor, and other things as well, the argument falls flat. Law enforcement needs to go through a legal process to access the financial records here. Mr. Speaker, it is not a good argument. We are talking about something that doesn't track what you are buying. It doesn't track the guns you are buying.”
“[[Page H4445]] Let me be clear: Buying a firearm is not extremism; buying a Bible is not extremism; reading the news you choose and want to read is not extremism; exercising a constitutional right is not extremism. The extreme position is using America's banks to build a permanent list to track who people worship, what they read, and what constitutional rights they happen to choose to exercise. Mr. Speaker, I urge my colleagues to vote for privacy, freedom, and the Constitution of the United States of America. Ms. WATERS. Mr. Speaker, I yield one minute to the gentleman from Florida (Mr. Frost). Mr. FROST. Mr.”
“I believe that the right to life trumps this right to privacy that they are contending. Mr. HILL of Arkansas. Mr. Speaker, I yield 2 minutes to the gentleman from New Jersey (Mr. Van Drew). Mr. VAN DREW. Mr. Speaker, I rise in strong support of this bill. This is not about crime. It is about control. Once you can flag a purchase, any purchase, you can flag a person. Once you can flag a person, you can control what they buy, what banks they use, and even what they believe. It is wrong. It is un-American. This bill is not just about guns. It is about the precedent that was set. If we allow financial institutions to become the surveillance arm of one party's political agenda today, there will be no limit to what gets flagged tomorrow.”
“Green), the ranking member of the Oversight and Investigations Subcommittee, who has always been an advocate against gun violence. Mr. GREEN of Texas. Mr. Speaker, I thank those who had the foresight to declare that all persons are created equal and endowed by their creator with certain unalienable rights, among them: life, liberty, and the pursuit of happiness. You are not giving up your constitutional rights when you are doing what you can to protect life. I have been to the funerals. I have seen the people who have lost their loved ones to gun violence. At some point we have to do more than contend that privacy trumps the right to life. The person's right to life trumps privacy, especially when no court has said that this is unconstitutional. Mr. Speaker, that is pure speculation on behalf of some people.”
“We want to know what you bought when you were at a certain location, and we want to know if you ever purchased a gun anytime in your life with that credit card or debit card. That is what the FBI asked Bank of America to do. That is how dangerous this practice is. That is why the sponsor from West Virginia, the chairman, and the committee's work is so good. God bless them. You don't give up your Fourth Amendment rights. Our Constitution protects our First, Second, and Fourth Amendment liberties--all of them. They are all important. That is why this legislation is critical. Mr. Speaker, I thank the chairman for his good work and Mr. Moore from West Virginia for sponsoring the bill. Ms. WATERS. Mr. Speaker, I now yield 1 minute to the gentleman from Texas (Mr.”
“Speaker, you don't give up your Fourth Amendment rights when you are exercising your Second Amendment rights. That is what is happening out there: People's privacy is being invaded. These merchant codes are there so the government can abuse them and track you. If you don't think I am right about this, we have the evidence: January 15, 2021, an email from the FBI to Bank of America saying give us every debit card and credit card purchase for anyone in Washington, D.C., for these particular dates. That is bad enough. You are allowed to travel in this country, too. That is a right we have. Here is what they also say: Also, overlay that with any historic purchase for weapons or weapons-related purchases. What?”
“If the House rules permitted, I would have offered an important amendment to make clear that nothing in this bill should prevent law enforcement from using merchant category codes to assist in investigating and preventing acts of terrorism. Mr. Speaker, I ask unanimous consent to insert the text of this amendment into the Record immediately prior to the vote on the motion to recommit. The SPEAKER pro tempore (Mr. DesJarlais). Is there objection to the request of the gentleman from Florida? There was no objection. Mr. FROST. Mr. Speaker, I hope my colleagues will join me in voting for the motion to recommit. Mr. HILL of Arkansas. Mr. Speaker, I yield 2 minutes to the gentleman from Ohio (Mr. Jordan), the distinguished chair of the House Judiciary Committee. Mr. JORDAN. Mr. Speaker, I thank the gentleman for yielding me time. Mr.”
“The Pulse nightclub shooter opened up six new credit cards in 8 months. He racked up more than $26,000 in credit card charges on guns and ammunition in the days before his killing spree in the middle of my district in my home of Orlando, Florida. Our system failed to turn those warning signs into an alert for police. He murdered 49 angels in my community and wounded another 49. Instead of helping to prevent the next tragedy, this bill makes it easier for those warning signs to be missed yet again. It strips law enforcement of an essential tool to stop violence before it happens, making every community in our Nation less safe. For this reason, at the appropriate time, I will offer a motion to recommit this bill back to committee.”
“1181 establishes commonsense guardrails to prevent regulatory abuse and safeguards constitutional freedoms. Mr. Speaker, I urge my colleagues to support this legislation. Ms. WATERS. Mr. Speaker, I yield 2 minutes to the gentleman from Florida (Mr. Frost) who has been active on this issue of gun violence. Mr. FROST. Mr. Speaker, I strongly oppose the Protecting Privacy in Purchases Act. Sponsors claim this bill prevents the privacy of gun owners, but in reality, it protects mass shooters, terrorists, gun traffickers, and the profits of the firearms industry. Financial institutions have already been using merchant codes to detect crimes like money laundering and human trafficking. They should be allowed to use that same responsible monitoring to help prevent gun violence. I know personally why this matters.”
“{time} 1540 My friend, the ranking member from California, cited statistics about annual and daily deaths that she says are the result of gun violence. Respectfully, the right to bear arms is not the cause of violence. One murder is too many in America, period. We all agree on that. Rather than blaming gun violence, Congress would be more productive focusing on the root causes of homicide: the breakdown of the family, lack of active parenting, mental illness, open-border policies, policies to defund the police, soft-on-crime policies like no cash bail, and politically motivated violence, like the kind that was behind the murder of Charlie Kirk. Addressing these societal problems does not require unconstitutional surveillance of Americans. H.R.”
“However, what my friend from California who just spoke doesn't say, but it needs to be said, is that the lawful purchase of a firearm protected by the Second Amendment is not in and of itself suspicious activity, nor should it be surveilled by the government. What it does is prevent the creation of a framework that could be used to monitor, flag, and discourage lawful purchases from federally licensed firearm retailers. This is about preventing government actors from using financial data to target Americans who are engaged in conduct expressly protected by the Second Amendment's right to keep and bear arms, a fundamental liberty for Americans. Americans should not have to worry that lawful purchases that they made will be used to create lists, databases, or surveillance tools aimed at this constitutionally protected activity.”
“From Operation Choke Point under the Obama administration and Choke Point 2.0 under Biden to New York financial regulators pressuring insurance companies to abandon longstanding relationships with the NRA, Americans have legitimate reasons to be concerned about the weaponization of the financial system. Despite what those on the other side of the aisle may say, this bill does nothing to prevent law enforcement or regulators from investigating criminal activity, nor does it change the stringent requirements on financial institutions to comply with existing anti- money laundering laws or suspicious activity reporting requirements.”
“At its core, this bill is about protecting privacy and preventing government surveillance on citizens simply for exercising their constitutionally enshrined Second Amendment rights. [[Page H4444]] H.R. 1181 prohibits payment card networks and financial institutions from requiring or assigning merchant category codes, or MCCs, that single out firearm retailers for separate tracking and monitoring. Unfortunately, we have seen repeated examples of progressive regulators and government officials pressuring financial institutions to target lawful industries and lawful customers.”
“Speaker, I urge my colleagues to vote ``no'' on this bill. Mr. HILL of Arkansas. Mr. Speaker, I yield 4 minutes to the gentleman from Kentucky (Mr. Barr), who chairs the Subcommittee on Financial Institutions and Monetary Policy. Mr. BARR. Mr. Speaker, I rise today in support of H.R. 1181, the Protecting Privacy in Purchases Act. I thank my friend, the gentleman from Arkansas, the chairman of the Financial Services Committee, for his leadership on the bill and for yielding. I am proud to be a cosponsor of this legislation. I thank Congressman Riley Moore for his leadership on this important bill. I thank Congressman Richard Hudson for his longstanding work defending the constitutional rights of law-abiding citizens, and our colleague from New York, Elise Stefanik, for her original introduction of this bill in several previous Congresses.”
“These alerts give law enforcement leads that uncover human trafficking rings and evidence that help put these bad guys away. The bill on the floor today blocks States from using this same process to flag suspicious firearms transactions to uncover gun trafficking rings. Many gun traffickers don't buy guns like responsible gun owners, and once guns are trafficked, we know bad things happen. Approximately 60 percent of trafficked guns are delivered to convicted felons. The felons who seek out and obtain trafficked firearms are the people who pose the greatest risk to everyone's safety. Mr. Speaker, gun violence is the leading cause of death for children, for teenagers, and for law enforcement in the line of duty. We should be working to break up gun trafficking rings which supply the guns that kill kids and cops. Mr.”
“In West Virginia, we don't ask permission to protect ourselves and our families, and no American should ever have to wonder whether buying a firearm will land them on a government watch list. Privacy and gun ownership go hand in hand. Mr. Speaker, I urge my colleagues to vote ``yes.'' Ms. WATERS. Mr. Speaker, I yield 2 minutes to the gentleman from California (Mr. Thompson), who is a leader in this Congress against gun violence. Mr. THOMPSON of California. Mr. Speaker, I thank the gentlewoman for yielding. Mr. Speaker, I rise in opposition to H.R. 1181, a bill which makes it harder to catch criminals and makes our communities less safe. Today, under current law, financial institutions are required to report suspicious transactions to law enforcement. They do this every day, and that helps catch human traffickers.”
“This cannot be allowed to stand. We have already seen the Biden administration pressure financial institutions to hand over data on their customers. A private database of gun owners falling into the hands of a future anti-gun administration is a threat that we cannot accept. Our God-given right to own a firearm does not stop at the border of blue States. Mr. Speaker, I thank my colleagues, Representatives Barr and Hudson, for their work on this bill. I also thank Chairman Hill for getting it across the finish line. I also thank Representative Stefanik for her leadership on this issue. These are our God-given rights, spelled out in our Constitution, and we proudly exercise them. We will not allow an elitist bank partnered with a foreign, faceless bureaucracy to rob Americans of their right to protect themselves.”