Stephen F. Lynch

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18 held · 11 searchable for Stephen F. Lynch. The searchable lines are below in date order, each linked to its source. Free to read, in full, without an account.

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1. “Mr. Speaker, I yield myself the balance of my time. Let me first of all thank Chairman Hill for his kind remarks and his astute observations on the circumstances that have brought us to this point. I will add that I believe this morning it was announced that JPMorganChase, which was the benefactor of this previous transaction, is now approaching $5 trillion in assets. That is indeed remarkable. Their market cap is about a trillion dollars, as well. I think this legislation does point to that loophole that allows megabanks to acquire failing banks even when other eligible, well- managed small and midsize banks have submitted competing bids improving community and regional bank competitiveness and preventing further consolidation among our largest financial institutions.”

   House of Representatives14 July 2026Source ↗

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2. “Megabanks should not be allowed to take advantage of financial crises to increase their domination and pad their own profits. This legislation would take an important step toward increasing competition and improving the resilience of our financial system from economic shocks. I am proud that this bill was passed unanimously in committee by every Democrat, every Republican, and has the support of Americans for Financial Reform to boot. Mr. Speaker, I urge my colleagues on both sides of the aisle to support this legislation, and I reserve the balance of my time.”

   House of Representatives14 July 2026Source ↗

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3. “Consumer advocacy organizations such as Americans for Financial Reform and Better Markets have raised serious concerns about the advantages afforded to large interconnected financial institutions like JPMorganChase in bidding for these failing banks, and as a result growing ever larger while accelerating the process of consolidation. To that end, I introduced this legislation, the Failing Bank Acquisition Fairness Act, which if it were law at the time would have created a more level playing field between healthy medium-sized as well as larger banks to both stabilize markets but also to better serve depositors, businesses, and the impacted communities in which those banks are located while avoiding megabanks gobbling up smaller banks in the steady march toward consolidation.”

   House of Representatives14 July 2026Source ↗

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4. “Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 6556, the Failing Bank Acquisition Fairness Act, which I introduced in December 2025. Mr. Speaker, I thank the gentleman from Arkansas (Mr. Hill) and the gentlewoman from California (Ms. Waters), our ranking member, who advanced this legislation unanimously within the committee. Specifically, the Failing Bank Acquisition Fairness Act will prevent megabanks from dominating the bidding process for acquiring a failed bank if there are other eligible bids from well-capitalized and well- managed small and midsized banks. In the three decades since 1994, the number of commercial banks has declined in this country by approximately 50 percent, hollowing out the small and midsized institutions that have traditionally housed local community capital.”

   House of Representatives14 July 2026Source ↗

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5. “Mr. Speaker, I congratulate Mrs. McClain and Mr. Garcia for their good work. The administration has already ceased penny production, but this legislation does the necessary work of providing meaningful guidance for consumers and businesses across the country. Mr. Speaker, I again urge my colleagues to support this bill, and I yield back the balance of my time.”

   House of Representatives14 July 2026Source ↗

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6. “Mr. Speaker, I yield 2 minutes to the gentleman from California (Mr. Garcia), who is also the ranking member of the Committee on Oversight and Government Reform.”

   House of Representatives14 July 2026Source ↗

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7. “As drafted, the bill now allows businesses to round cash transactions if exact change cannot be provided, and it also authorizes businesses to continue to round in favor of customers. This legislation also requires the Federal Reserve to prepare a strategic plan in connection with managing the circulation of the penny. Additionally, the bill will now grapple with potential unintended consequences that come from ending penny production, like rounding cash transactions on low-income and unbanked communities and more. Mr. Speaker, I congratulate the gentleman from Arkansas for his leadership on this. I urge my colleagues to support this bill, and I reserve the balance of my time.”

   House of Representatives14 July 2026Source ↗

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8. “While the Secretary of the Treasury did carry out President Trump's orders, the administration failed to provide a strategic plan or guidance for the public on how to handle this change, which would impact all segments of the economy. This sudden decision is emblematic of how the administration carries out policy. They do it suddenly, without expert engagement, without feedback, and without consideration of potential harms. For these reasons, I was glad to see that Ranking Member Waters, the gentleman from Arkansas (Mr. Hill), Representative McClain, and Representative Garcia worked together for over a year to thoughtfully provide much-needed clarity to businesses and consumers in this legislation. In its current form, this bill has made significant improvements from when it was first marked up in our committee.”

   House of Representatives14 July 2026Source ↗

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9. “Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 3074, the Common Cents Act, sponsored by Representative McClain. I thank Representative McClain, along with Representative Robert Garcia, for their work on this legislation. The idea to end penny production is not a new one. In fact, other countries, like Canada, Australia, and New Zealand, have stopped producing pennies themselves. However, many of these countries executed this plan through a deliberate and meaningful process. Unlike the approach taken by other countries, in February 2025, President Donald Trump abruptly announced on his Truth Social media account that he directed the Treasury to stop minting pennies. This decision, not surprisingly, ignored the critical role and constitutional authority of Congress in regulating the currency.”

   House of Representatives14 July 2026Source ↗

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10. “Mr. Speaker, as a member of the Subcommittee on Military and Foreign Affairs, I rise in strong opposition to executive actions taken by the Trump administration to shut down U.S. foreign assistance and undermine America's national security. Over the past two decades, I have led multiple bipartisan congressional delegations to Iraq, Afghanistan, Lebanon, Syria, Ukraine, Somalia, and Gaza, as well as other conflict zones.”

    House of Representatives11 February 2025Source ↗

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11. “Mr. Speaker, as a member of the Subcommittee on National Security, the Border, and Foreign Affairs, I rise in strong opposition to the expansionist rhetoric that President Trump is directing toward America's strongest and longstanding allies and international partners.”

    House of Representatives23 January 2025Source ↗

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