2022: Fitzpatrick Effectively Voted Against The Financial Services
Racial Equity, Inclusion, And Economic Justice Act. In June 2022,
according to Congressional Quarterly, Fitzpatrick voted for the "Hill,
R-Ark., motion to recommit the bill to the House Financial Services
Committee." The vote was on a motion to recommit. The House rejected the
motion by a vote of 202-219. [House Vote 274,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Effectively Voted Against The Financial Services
Racial Equity, Inclusion, And Economic Justice Act. In June 2022,
according to Congressional Quarterly, Fitzpatrick voted against the
"adoption of the rule (H Res 1170) for [...] the Financial Services
Racial Equity, Inclusion, and Economic Justice Act (HR 2543)." The vote
was on the adoption of the rule. The House adopted the rule by a vote of
218-204. [House Vote 260,
6/14/22; Congressional
Quarterly, 6/14/22;
Congressional Actions, H.R.
2543;
Congressional Actions, H.Res.
1170]
2022: Fitzpatrick Effectively Voted Against The Financial Services
Racial Equity, Inclusion, And Economic Justice Act. In June 2022,
according to Congressional Quarterly, Fitzpatrick voted against the
"motion to order the previous question (thus ending debate and
possibility of amendment) on the rule (H Res 1170) for [...] the
Financial Services Racial Equity, Inclusion, and Economic Justice Act
(HR 2543)." The vote was on a motion to order the previous question. The
House agreed to the motion by a vote of 216-199. [House Vote 259,
6/14/22; Congressional
Quarterly, 6/14/22;
Congressional Actions, H.R.
2543;
Congressional Actions, H.Res.
1170]
2022: Fitzpatrick Voted Against An Amendment That Would Require
Retailers To Accept Cash Payments For Transactions Up To $2,000 And
Prohibit Vendors From Charging More For Goods And Services Paid In
Cash. In June 2022, according to Congressional Quarterly, Fitzpatrick
voted against an amendment to the Financial Services Racial Equity,
Inclusion, and Economic Justice Act, which would "require retailers
accepting in-person payments to accept cash as a form of payment for
transactions up to $2,000. It also would prohibit vendors from charging
more for goods or services paid for in cash." The vote was on the
adoption of an amendment. The House adopted the amendment by a vote of
224-198. [House Vote 273,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
227;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted For An Amendment That Would Ensure The
Financial Services Equity Bill Would Not Impede With The Ability Of
Insured Depository Institutions To Provide Services In Underbanked
Areas. In June 2022, according to Congressional Quarterly, Fitzpatrick
voted for an amendment to the Financial Services Racial Equity,
Inclusion, and Economic Justice Act, which would "add language to ensure
that nothing in the bill is used to impede the ability of insured
depository institutions to provide services in underbanked areas." The
vote was on the adoption of an amendment. The House adopted the
amendment by a vote of 297-123. [House Vote 272,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
226;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted Against Supporting Community Development
Financial Institutions (CDFIs), Minority Depository Institutions (MDIs)
And Local Financial Services And Authorizing $4 Billion For The
Emergency Capital Investment Fund To Help CDFIs And MDIs In Low-Income
Communities. In June 2022, according to Congressional Quarterly,
Fitzpatrick voted against the Financial Services Racial Equity,
Inclusion, and Economic Justice Act, which "Among provisions to support
community development financial institutions, minority depository
institutions and other local financial services, it would require
federal agencies to prioritize the use of MDIs for their deposits;
require the Treasury Department to maintain a public list of MDIs;
require the Fed to establish a process for CDFIs and MDIs to access the
discount window, which provides short-term loans to support bank
liquidity; reserve 40 percent of CDFI funding for minority-lending
institutions; reauthorize the CDFI Bond Guarantee Program for four
years; allow depository institutions that have less than $10 billion in
assets and make loans to low-income borrowers equal to at least half
their assets to apply to be designated as 'impact banks' eligible for
certain federal support; and authorize $4 billion for the Emergency
Capital Investment Fund to assist CDFIs and MDIs in low-income areas."
The vote was on passage. The House passed the bill by a vote of 215-207,
thus the bill was sent to the Senate. [House Vote 275,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted Against Amendments That Would Require The
Semiannual Federal Reserve Report On Labor Trends To Include Demographic
Comparisons By Age And Individuals With Dependent Minors. In June
2022, according to Congressional Quarterly, Fitzpatrick voted against
the en bloc amendments no. 1 to the Financial Services Racial Equity,
Inclusion, and Economic Justice Act, which would "add demographic
comparisons by age and regarding individuals with dependent minor
children to a requirement for reporting on labor trends in a semiannual
Federal Reserve Board report to Congress." The vote was on the adoption
of amendments. The House adopted the amendments by a vote of 217-192.
[House Vote 270,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
224;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted Against Amendments That Would Require
Securities Issuers To Include Disability Status Of The Board Of
Directors And Executive Officers In Diversity Disclosures. In June
2022, according to Congressional Quarterly, Fitzpatrick voted against
the en bloc amendments no. 1 to the Financial Services Racial Equity,
Inclusion, and Economic Justice Act, which would "require securities
issuers to include disability status, based on voluntary
self-identification, of the board of directors and any executive officer
in their disclosures related to diversity." The vote was on the adoption
of amendments. The House adopted the amendments by a vote of 217-192.
[House Vote 270,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
224;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted For Amendments That Would Remove A Current
Requirement For Financial Institutions To Inquire Whether Businesses Are
Owned By Women Or Minorities Or Are Small Businesses And Strike A
Provision That Would Require Institutions To Inquire Whether Businesses
Are LGBTQ-Owned. In June 2022, according to Congressional Quarterly,
Fitzpatrick voted for the en bloc amendments no. 2 to the Financial
Services Racial Equity, Inclusion, and Economic Justice Act, which would
"strike language to require financial institutions to inquire and record
whether businesses applying for credit are LGBTQ-owned, replacing it
with language to strike current law that requires such institutions to
inquire and record whether such businesses are women-owned,
minority-owned or a small business." The vote was on the adoption of
amendments. The House rejected the amendments by a vote of 202-217.
[House Vote 271,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
225;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted Against Prohibiting Discrimination Based On
Zip Code, Census Tract, Sexual Orientation, Gender Identity Or
Disability During Credit Transactions And Creating Criminal Penalties
For Violations Of The 1974 Equal Credit Opportunity Act. In June 2022,
according to Congressional Quarterly, Fitzpatrick voted against the
Financial Services Racial Equity, Inclusion, and Economic Justice Act,
which "Among provisions related to federal fair lending protections
under the 1974 Equal Credit Opportunity Act, it would prohibit
discrimination in any aspect of a credit transaction based on zip code,
census tract, sexual orientation, gender identity or disability status;
establish a CFPB office to test ECOA compliance through the use of
undercover credit applicants; establish criminal penalties for ECOA
violations, with a maximum penalty of a $50,000 fine, one-year
imprisonment or both, and increased penalties for repeat violations; and
require financial institutions to collect and maintain information on
loan applications from LGBTQ-owned businesses to help facilitate fair
lending enforcement and opportunities." The vote was on passage. The
House passed the bill by a vote of 215-207, thus the bill was sent to
the Senate. [House Vote 275,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.R.
2543]
The Federal Reserve Concluded That Over Half Of Black-Owned
Businesses That Applied For Loans Were Denied In 2017, An During The
COVID-19 Pandemic, Many Black-Owned Businesses Were Denied Paycheck
Protection Program Loans. According to The Hill, "In 2017, the
Federal Reserve found that more than half of Black-owned firms that
applied for loans were turned down. And during the pandemic, many
Black-owned firms were denied Paycheck Protection Program loans from
banks, forcing them instead to turn to financial tech loans." [The
Hill,
6/16/22]
According To An August 2021 Report By The Associated Press,
Lenders Were 80% More Likely To Deny Black Applicants For Personal
Loans Than White Applicants. According to The Hill, "Similar
trends follow applicants of color when it comes to applying for
personal loans, like mortgages. The Associated Press reported last
August that lenders were 80 percent more likely to reject Black
applicants than white applicants." [The Hill,
6/16/22]
2022: Fitzpatrick Voted Against Amendments That Would Require Federal
Reserve Banks, When Appointing A President, To Interview At Least One
Gender-Diverse Candidate And One Racially-Diverse Candidate. In June
2022, according to Congressional Quarterly, Fitzpatrick voted against
the en bloc amendments no. 1 to the Financial Services Racial Equity,
Inclusion, and Economic Justice Act, which would "require federal
reserve banks, in appointing a president, to interview at least one
person reflective of gender diversity and one person reflective of
racial diversity, and to report to Congress on applicant pool
demographics for any such positions." The vote was on the adoption of
amendments. The House adopted the amendments by a vote of 217-192.
[House Vote 270,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
224;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted Against Promoting The Establishment Of Banks
In Underserved Areas, Requiring The Federal Reserve To Strive To
Eliminate Racial And Ethnic Disparities, And Requiring Agencies To
Provide Translation Services During Residential Mortgage Transactions.
In June 2022, according to Congressional Quarterly, Fitzpatrick voted
against the Financial Services Racial Equity, Inclusion, and Economic
Justice Act, which would "include a number of provisions intended to
increase access to and promote racial equity with respect to financial
services. Among provisions related to increasing access to financial
services, it would require federal banking regulators to develop a plan
to promote the creation of new depository institutions, particularly in
underserved geographic areas; require the Federal Reserve to carry out
its duties and functions in a manner that fosters the elimination of
racial and ethnic disparities in employment, income, wealth and credit
access and include related demographic information in its semiannual
report to Congress; establish a process for federal credit unions to add
underserved areas to their membership; and require the Consumer
Financial Protection Bureau, Federal Housing Finance Agency and mortgage
lenders to take various actions to provide translated documents and oral
translation services with respect to residential mortgage loan
transactions." The vote was on passage. The House passed the bill by a
vote of 215-207, thus the bill was sent to the Senate. [House Vote 275,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.R.
2543]
The Bill Addressed "Racial Disparities In Employment, Income And
Access To Affordable Credit." According to The Hill, "The House on
Wednesday passed a package that addresses racial disparities in
employment, income and access to affordable credit." [The Hill,
6/16/22]
The Bill Would Increase Access To Federal Credit Unions In
Underserved Areas And "Promote Access To Fair Housing." According
to The Hill, "The package intends to combat inequities by increasing
access to federal credit unions in underserved communities and
promote access to fair housing." [The Hill,
6/16/22]
2022: Fitzpatrick Voted Against Amendments That Would Require
Depository Institution To Also Categorize Mortgage Loan Data By
Disability And Veteran Status. In June 2022, according to
Congressional Quarterly, Fitzpatrick voted against the en bloc
amendments no. 1 to the Financial Services Racial Equity, Inclusion, and
Economic Justice Act, which would "require depository institutions to
also group mortgage loan data by disability and veteran status." The
vote was on the adoption of amendments. The House adopted the amendments
by a vote of 217-192. [House Vote 270,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
224;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted Against Requiring Federal Banking Regulators
To Consider Diversity And Inclusion When Rating Banks, Establishing
Diversity Reporting Requirements For Publicly Traded Companies, And
Requiring The Securities And Exchange Commission To Make Recommendations
On Increasing Diversity On Public Company Boards. In June 2022,
according to Congressional Quarterly, Fitzpatrick voted against the
Financial Services Racial Equity, Inclusion, and Economic Justice Act,
which "Among provisions to promote personnel diversity in the finance
sector, the bill would require federal banking regulators to consider
diversity and inclusion when rating depository institutions under the
Uniform Financial Institutions Rating System; establish personnel
diversity reporting requirements for publicly traded companies,
financial institutions and financial regulatory agencies; and require
the Securities and Exchange Commission to report on and recommend
strategies to increase diversity on boards of public companies. As
amended, it would require retailers accepting in-person payments to
accept cash for transactions up to $2,000 and prohibit them from
charging more for items paid for in cash." The vote was on passage. The
House passed the bill by a vote of 215-207, thus the bill was sent to
the Senate. [House Vote 275,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted Against Amendments That Would Prohibit
Creditors From Discriminating On The Basis Of Disability. In June
2022, according to Congressional Quarterly, Fitzpatrick voted against
the en bloc amendments no. 1 to the Financial Services Racial Equity,
Inclusion, and Economic Justice Act, which would "prohibit creditors
from discriminating against any individual, with respect to any aspect
of a credit transaction, on the basis of disability." The vote was on
the adoption of amendments. The House adopted the amendments by a vote
of 217-192. [House Vote 270,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
224;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted For Amendments That Would Strike Provisions
Related To Equity In Monetary Policy, Collection And Reporting Of
Diversity Data, Diversity And Inclusion In Banking, And Financial Access
Expansion For Underserved Communities. In June 2022, according to
Congressional Quarterly, Fitzpatrick voted for the en bloc amendments
no. 2 to the Financial Services Racial Equity, Inclusion, and Economic
Justice Act, which would "strike from the bill provisions related to
equity in monetary policy, diversity data collection and reporting,
diversity and inclusion in banking and expanding financial access for
underserved communities." The vote was on the adoption of amendments.
The House rejected the amendments by a vote of 202-217. [House Vote
271, 6/15/22;
Congressional Quarterly,
6/15/22; Congressional Actions,
H.Amdt.
225;
Congressional Actions, H.R.
2543]
2022: Fitzpatrick Voted Against Amendments That Would Require The
Young Entrepreneurs Program To Focus On Supporting Young Entrepreneurs
From Minority Communities. In June 2022, according to Congressional
Quarterly, Fitzpatrick voted against the en bloc amendments no. 1 to the
Financial Services Racial Equity, Inclusion, and Economic Justice Act,
which would "require the Young Entrepreneurs Program authorized by the
bill to focus on supporting young entrepreneurs from historically
underrepresented groups." The vote was on the adoption of amendments.
The House adopted the amendments by a vote of 217-192. [House Vote 270,
6/15/22; Congressional
Quarterly, 6/15/22;
Congressional Actions, H.Amdt.
224;
Congressional Actions, H.R.
2543]