Madam Speaker, my focus today is on this bill. This bill is very important for the protection of consumers. It ensures that they have a banking system that treats them fairly. It is important for our economy, for jobs and growth, so we can continue to have the soundest financial system in the world. Thus, it is important that this bill pass, as everybody knows, by April 20, 2012. Failing that, the existing law will sunset. Some may not like the fact that there is a review built into the legislation that compels a requirement to come back to the House every five years. Some think that is a good thing. However, there is an obligation on us to review it.
There are some important changes happening. We are increasing the threshold for schedule I banks to reflect the fact that times have changed, and to ensure that the system is modern and responsive. It is an important change, one that is supported broadly and will continue to keep our financial sector strong and competitive.