►
Description
House Banking & Consumer Affairs Subcommittee House Hearing Room 3
A
Thank
you
all
for
attending
the
banking
and
consumer
affairs
committee.
This
is
the
last
one.
We
hope
I
thought
it'll
be
the
final,
the
grand
finale,
the
conclusion,
the
end
game,
the
home
stretch,
the
wind
up
the
wrap
up
so
anyway,
we're
going
to
get
on
with
it,
and
thank
you
all
for
coming
out
today.
Madam
clerk,
will
you
please
call
the
roll.
A
A
A
item
number
six
house
bill.
1330
has
been
taken
off
notice,
item
number
nine
house
bill,
356
has
been
taken
off
notice,
okay
and
now
that
takes
us
to
item
number
one
and
oh,
I'm
sorry,
representative
johnson,
you
are
recognized,
we
have
a
motion
and
a
second
and
you
are
recognized
representing
johnson.
Thank.
C
You,
mr
chairman
members,
this
paid
family
leave
bill.
Is
it's
been
a
really
good
bill?
I
bro
I've
brought
it
before
some
things
are
happening.
There
are
many
more
states
that
have
passed
paid
family
leave
since
started
this
a
few
years
ago,
and
one
of
the
states
to
our
south
georgia
just
did
that.
But
in
doing
so
I'm
learning
more
some
of
the
folks
that
we're
working
with
on
this
bill
there's
some
new
ideas.
C
A
A
D
B
Many
of
you
know
me:
I've
met
with
several
of
you.
I
want
to
thank
you
all
for
giving
me
your
time
to
hear
about
the
long-term
and
far-reaching
effects
of
eliminating
the
salary
history
question.
I
am
with
the
american
association
of
university
women
tennessee.
We
have
been
fighting
for
equity
in
the
nation
since
1880
and
in
tennessee,
since
1926.
B
I
think
everyone
understands
the
question
at
hand
when
I
met
with
everybody.
Everybody
gets
the
loophole
that
is
in
asking
the
salary
history
question
that
an
applicant
can
be
low-balled
without
without
any
chance
to
defend
themselves.
So
I
we
have
been
championing
this
bill
since
its
introduction
in
2018,
and
we
understand
a
super
majority,
a
trifecta
state,
all
those
things
considered.
B
So
this
is
like
an
exercise
for
us
and
I
appreciate
the
opportunity
to
dance
so
in
2020,
the
federal
circuit
court
found
in
favor
of
eliminating
the
salary
history
question
the
nfib
and
the
aauw
and
the
women's
law
project.
This
was
the
president-setting
case
and
they
found
in
favor
of
eliminating
the
salary
history
question.
B
B
B
B
B
19
states
have
already
successfully
eliminated
the
salary
history
question
and
there
were
no
major
major
disasters
and
no
one
left
the
state.
Because
of
that,
I
urge
you
to
support
house
bill
725
for
your
constituents
who
are
or
will
be
looking
for
a
job.
Thank
you
for
your
time
and
the
opportunity.
Okay.
A
E
E
B
F
I
I
understand
what
you're
trying
to
accomplish
and
believe
me
when
I
you
know,
go
for
a
job.
I
kind
of
don't
want
to
tell
them
what
I
made
at
my
previous
job,
but
I
just
don't
see
that
we
have
the
right
to
prohibit
employers
from
doing
that.
I
think
yeah
be
convenient.
Sure
it'd
be
great.
I
just
don't
think
that
we
have
the
right
to
do
that,
and
so
I
will
be
a
no
vote
on
this
bill,
but
I
did
want
to
ask
mr
chairman
legal:
are
there
other
things
that
we
prohibit?
F
F
A
F
Such
as
you
know,
you
wouldn't
ask
a
job
up
and
what
is
your
skin
color?
What
is
your
sex?
Are
you
pregnant
things
like
that
having
to
do
it
protected
classes,
not
necessarily
just
because
you
know
it
would
be
really
inconvenient
for
me
if,
if
I
had
to
say
what
I
made
at
my
previous
job,
so
I
I
understand
that
so.
Thank
you
very
much.
I
I
will
not
be
voting
for
this
bill
and
only
because
I
just
think
it's
a
little
too
strong
arm
of
government.
B
A
C
B
C
B
Sorry
I'll
answer
that
question
one
of
the
fastest
growing
poverty.
Demographics
in
tennessee
is
people
over
65
and
what
they're
finding
is
a
lot
of
those
people
are
women
who
do
not
have
a
retirement
account
big
enough
to
retire
on?
They
don't
have
a
plan,
and
that's
from
years
it
averages
about
four
hundred
thousand
dollars
over
the
course
of
a
40-year
career
that
a
woman
misses
out
because
of
previous
or
current
discrimination.
A
A
I
have
I
have
a
quick
one.
We
we
talked
one
time
before
just
wanted
to
think,
because,
because
I
I
got
to
thinking
about
you
what
you
and
I
discussed
and
I'm
actually,
I
have
a
sales
job.
So
if
we're
interviewing
someone
for
a
sales
position,
for
example,
you're
knowing
what
they
made
in
their
prior
sales
job,
is
pretty
helpful
in
telling
what
kind
of
a
sales
job
that
they've
been
doing,
I
mean,
how
would
you
get
around
that
or
how
would
that
be
eliminated
too?.
B
A
B
B
A
C
B
A
D
Final
comments.
Thank
you,
mr
chairman.
I've
actually
got
an
answer
for
our
chairman
here
on
the
states
you
have
alabama
california,
colorado,
connecticut,
delaware,
it's
not
a
state,
although
I
wish
it
was
washington,
d.c,
hawaii,
illinois,
maine,
maryland
massachusetts,
new
jersey,
new
york,
oregon
pennsylvania,
vermont,
virginia
and
washington,
and
also
just
wanted
to
clarify
this
would
only
apply
to
entities
that
had
50
or
more
employees.
A
A
D
Thank
you,
mr
chairman,
and
I'll
motion,
my
own
bill.
Thank
you.
So
my
my
yeah,
that's
right.
My
plan
is
to
to
take
this
pill
off
notice,
but
I
have
gotten
a
lot
of
interest
in
time,
share
programs
and-
and
if
I
could,
mr
chairman,
just
share
briefly,
because
I
think
we're
gonna-
hopefully
look
at
this
over
the
summer
and
and
consider
this,
and
I
have
had
some
people,
ask
me
what
what
exactly
is
a
time
share
program
or
work
share
program.
D
Rather,
we
a
work
share
program
is
an
optional
arrangement
offered
by
some
states
under
work
share
program,
employees
of
a
participating
employer
eligible
to
receive
partial
unemployment
benefits
for
periods
during
which
the
employer
reduces
their
hours
and
their
pay,
even
if
the
employees
otherwise
would
not
qualify
to
receive
them
for
states
that
have
adopted
them.
Work
share
programs
are
administered
by
state
agencies
responsible
for
handling
unemployment,
benefits
generally
to
participate.
D
An
employer
submits
a
work
share
plan
to
the
agency
for
approval.
Once
the
agency
approves
the
employer's
plan,
the
employer
may
reduce
hours
and
compensation
temporarily
for
some
or
all
of
its
employees.
In
accordance
with
that
plan
and
the
affected
employees
may
collect
unemployment
benefits
related
to
the
reduction.
D
For
example,
instead
of
relying
on
20
of
its
workforce,
a
participating
employer
may
reduce
all
hours
and
payroll
across
its
entire
workforce
or
a
segment
of
its
workforce
by
20
percent.
The
affected
employees
would
receive
80
percent
of
their
regular
pay
from
their
work
share
employer.
They
would
also
be
eligible
to
collect
partial
employment
insurance
benefits
from
the
state
to
offset
the
reduction,
at
least
in
part,
currently
26
states
and
the
district
of
columbia.
Have
this
work
share
program
in
place,
and
there
are
a
lot
of
southern
states
here
on
the
list.
D
So
I
think
this
is
a
really
great
program.
We
should
look
at
the
state
and
appreciate
particularly
chairman
vaughn
saying
that
he's
interested
and
continue
to
look
further
at
this,
and
so
hopefully
we
continue
to
explore
this
and
maybe
bring
it
back
next
year.
So
with
that,
mr
chairman,
I'd
like
to
take
this
off
notice.
A
F
F
F
People
can
still
buy
those
robocalls
and
you
know
call
someone
to
ask
for
their
vote
and
giving
information
to
the
voter
is
really
critical.
There's
been
times
when
I'm
knocking
on
doors
and
a
person
will
say
to
me
go
away.
I
don't
want
to
hear
anything.
If
I
receive
a
piece
of
mail
from
you,
I
I
will
not
like
it.
I
will
not
want
anything-
and
I
said,
that's
okay,
but
you
know
what
I
get
that,
but
all
year
long
when
we're
not
running
for
election
people,
often
say
I
never
hear
from
you.
F
I've
literally
come
to
your
door
to
talk
to
you
about
your
views
and
how
you
feel
about
representation
and
what
your
concerns
are,
and
you
know
I
I've
made
that
effort
because
you're
important
to
me
and
then
the
voter,
you
know
their
mind
shifts,
and
they
say
you
know
what
I
never
really
thought
of
it.
That
way,
I'm
just
thinking
I'm
watching
the
ball
game
and
I
want
to
be
bothered-
and
I
always
say
I
apologize.
F
F
We
need
to
let
people
know
what
our
political
views
are,
because
they
will
be
deciding
who
represents
them
and,
as
I
said,
we're
in
our
infancy.
We
haven't
worked
all
this
out
yet
so
I
would
like
to
maybe
put
this
on
the
first
calendar
next
year,
because
I
have
a
feeling
a
lot
more
is
going
to
shake
out
between
now
and
then.
Okay.
A
All
right,
thank
you,
and
we
will
with
that
objection,
we're
going
to
roll
this
bill
bill
number
1370
to
the
first
calendar
of
2022..
Thank
you.
I
had
a
funny
story
about
knocking
on
doors.
I
went
to
knock
on
the
door
one
time
and
they
had
a
big
sign
up
before
the
front
door
and
it
said
trespassers
will
be
shot
and
then
right
down
below
it.
It
said
survivors
will
be
shot
again,
so
I
did
not
knock
on
their
door.
I
just
kept
on
going
representative
lynn.
F
Now
it
is,
it
is
my
understanding
if
the
neighborhood
says
no
listening,
you
actually.
As
asking
for
the
vote,
you
can
actually
still
go.
Ask
it
doesn't
mean
you're
going
to
receive
a
nice
welcome.
You
might
want
to
reconsider
that,
however,
also
when
there
is
a
no
trespassing
sign,
that
is
the
sign
you
do
not
cross,
never
ever
cross.
That
sign,
and
I
give
these
instructions
to
all
of
my
volunteers.
So.
A
G
G
A
G
Thank
you
about.
I
appreciate
that,
so
let
me
explain
a
little
bit
sort
of
the
origin
of
this
particular
legislation.
There
are
several
states
that
are
looking
at
how
we
protect
your
consumer
data.
That
data
can
be
as
simple
as
your
email
address,
your
telephone
number,
whatever
you
use
to
log
into
a
social
media
platform
or
an
app
that
uses
a
social
media
form,
etc.
So
there's
been
a
lot
of
discussion
about
where
this
bill
originates.
Some
would
say
it's
a
california
bill.
G
Some
will
say
it's
a
florida
bill,
but
but
I
have
taken
a
look
at
all
of
that
legislation
and
combined
it.
So
one
thing
I
want
to
kind
of
stress
to
you
is
this:
isn't
coming
from
one
particular
state?
The
reason
why
some
may
say
this
is
a
california
legislation
is
a
lot
of
the
definitions,
like
a
biometric
data,
which
I
didn't
know
what
that
was
until
I
dug
into
this
legislation
about
two
months
ago
and
figured
out
what
that
is.
G
Some
of
the
definitions
certainly
come
from
the
state
of
california,
because
a
lot
of
these
companies
that
do
this
type
of
information
do
this
type
of
sharing.
Do
these
apps
originate
in
silicon
valley
in
the
california
area
and
there's
legislation
traveling
across
this
entire
state
to
protect
consumer
data.
So
what
does
that
mean?
G
Well
all
of
us
have
these
devices-
these
phones,
our
ipads,
that
we
use
here
in
the
legislature
and
we
go
to
certain
websites,
certain
apps,
that
use
your
data
and,
as
it
exists
right
now
that
data
there
are
no
laws
either
federal
or
otherwise.
That
would
protect
how
that
data
is
used
by
that
particular
company
to
target
what
they
want
to
do
to
market
you
to
other
apps,
to
other
platforms,
to
transfer
to
sell
that
data.
G
There
is
nothing
right
now
that
says
what
they
can
do,
what
they
can't
do,
what
they
can
disclose
to
you
and
how
they
use
that
information
to
allow
whether
or
not
you
want
your
data.
Your
email
address
your
ip
address,
your
facial
recognition
technology,
your
thumbprint,
all
of
this
that
you're
giving
to
these
companies
to
use
their
platform.
G
There
is
no
requirement
on
their
end
on
what
they
do
with
that
information,
how
they
use
it,
how
they
protect
it
and
what
they're
supposed
to
do
to
allow
whether
or
not
you
want
it
to
be
sold,
transfer
or
cetera.
So
what
the
intent
of
this
legislation
is
and
what
there's
a
lot
of
questions
around
is:
who
does
this
apply
to?
G
This,
the
intent
of
this
legislation
is
not
to
attack
or
to
make
companies
small
to
medium-sized
companies
that
collect
data
for
their
own
marketing
purposes.
That
would
be
subject
to
this,
because
why
they're
not
selling
that
information,
their
revenues
primarily
aren't
from
the
transfer
or
sale
of
data
to
make
sure
where
you
go.
G
One
thing
that
has
come
to
light
over
the
past
week.
This
is,
and
by
the
way,
this
isn't
directed
at
one
particular
company.
So
don't
don't
take
this
example,
as
this
is
directed
just
to
facebook.
Facebook
does
a
really
good
job
on
what
they
do
with
their
data.
In
fact,
they
don't
want
their
data,
that's
how
they
operate
their
business.
They
use
your
digital
footprint
to
target
things.
G
When
you
go
on
facebook
to
know
what
you're
looking
at
the
next
day,
so
they
don't
share
that
data,
they
just
tell
companies
that
hey
this
person
is
going
here.
You
might
want
to
do
an
ad,
because
this
is
where
this
person
is
going
to
go
tomorrow.
They're,
not
sharing
that
person
with
that
particular
with
that
particular
company.
G
But
over
the
past
week
I
may
have
read
where
facebook
had
some
someone
hacked
their
information,
so
500
million
consumer
data
was
put
on
the
internet
now
that
data
was
fairly
old,
but
what
does
that
mean
for
those
consumers?
How
is
that
data
protected?
What
does
that
data
look
like?
Whose
is
it
this
is
what
this
law,
this
tennessee
information
protection
act,
is
designed
to
protect
so
right
now
there
is
nothing
in
this
legislation
that
directs
or
addresses
what
a
company
like
facebook.
G
If
this
should
happen
to
a
company,
what
are
they
going
to
do
with
that
information?
How
are
they
going
to
tell
the
consumers
that
use
that
platform
that
that
information
could
be
out
there
now,
in
all
other
sense
of
the
word
with?
Well,
if
you
remember,
when
equifax
and
those
folks
had
all
that
data
that
hit
there
was
a
big
hacking,
they
let
their
folks
know,
there
was
federal
law
that
covered
that
there's
nothing
in
this
legislation
that
would
cover
what
a
company
should
do.
G
G
I
haven't,
worked
on
a
piece
of
legislation
over
the
past
few
months,
as
much
of
I've
been
passionate
about
protecting
our
kids,
yours,
grandparents,
information
on
how
they
communicate,
because
these
devices
are
becoming
so
commonplace.
The
iphone
was
invented
in
2007..
They
invented
the
app
store
with
little
mini
ipods.
G
Before
then,
that's
when
music
really
became
a
sharing
mechanism
for
electronic
data.
What
we
now
use
these
phones
are
probably
every
day
every
minute
of
our
lives
of
how
we
pay
our
bills,
etcetera.
So
the
implications
of
this
law
is
is,
is
big.
I
don't.
I
recognize
that
the
stakeholders
that
I've
worked
with
for
the
past
couple
of
months
have
been
nothing
but
fantastic
they've.
Given
me
feedback
on
who
needs
to
be
exempt,
how
we
need
to
narrow
this
law,
etc,
etc,
etc.
G
All
the
way
down
the
line
of
how
we
can
make
sure
who
we're
supposed
to
capture
to
make
them
subject
to
keeping
the
data
private.
So
with
all
of
that,
my
intentions
today,
because
I
want
to
work
on
a
particular
piece
of
what
happens
if
this
consumer
data
is
out
there
and
hacked
what
the
notification
requirements
be
for
the
consumers.
So
what
I
hope
to
do
is
put
this
on
the
first
calendar
of
next
year
and
get
legislation
work
with
more
stakeholders
get
as
much
feedback
as
I
possibly
can,
because
I
think
this
is
needed.
G
One
thing
that
I
have
not
received
for
feedback
on
this
legislation
is
that
the
legislation
is
not
needed.
It
just
needs
to
get
there,
and
so
I
am
more
than
willing
to
work
with
you
all
next
year,
work
with
the
stakeholders
to
make
sure
we
can
get
legislation
that
I
know
you
and
your
districts
will
be
100,
confident
in
and
100
that
we
can
protect
this
data
for
consumers.
G
F
Thank
you,
mr
chairman,
in
your
in
your
remarks.
You're
talking
about
biometric
data
and
consumer
data.
Are
you
talking
about
protecting
both
of
those
and
treating
those?
Equally
I
came
across
last
week.
Amazon's
palm
reading
starts
at
the
grocery
store.
It's
a
palm
ring.
You
put
your
palm
over
to
check
out
at
the
grocery
store,
so
they
have
your
palm
identified.
If
you
were
willing
to
do
that,
and
I
do
think
that
we
I
want
to
research
it,
maybe
you
know
we
protect.
We
make
sure
that
businesses
protect
social
security
numbers.
F
They
can't
share
those.
I
do
believe
so.
Why
not
have
say
you
know
sort
of
a
bill
of
rights
for
your
biometric
data.
You're
it's
protected.
It
is
protected
because
certainly
my
palm
is
connected
to
my
credit
card.
A
lot
of
nefarious
things
could
certainly
happen.
So
I
I
guess
I
have
a
couple
questions
there,
but
I
am
talking
about
biometric
data
or
consumer
data.
Sure.
G
Are
covered
under
this
particular
act,
biometric
data
is
defined
and
it
is
defined,
as
can
be
as
your
retina
scan
can
be.
Your
thumb
print,
your
facial
recognition
technology
that
is
defined
under
biometric
data,
which
is
included
under
the
definition
of
consumer
information,
so
that
is
actually
part
of
what
this
particular
legislation
is
supposed
to
protect.
H
Thank
you,
mr
chairman.
Again,
a
great
presentation,
fascinating
you
have
your
work
cut
out
for
you.
My
question
generally
is
along
those
lines,
all
the
stakeholders
I
mean:
do
we
not
have
with
some
resources
in
the
state
that
you
can
draw
upon
consumer
departments,
I'm
not
sure
where
they
are
in
the
state,
but
I
mean
don't
get
me
wrong.
G
G
So
we
don't
capture
anyone
that
shouldn't
be
subject
to
this
law,
because
the
last
thing
that
I
want
to
do
is
call
is
cause
our
small
to
medium-sized
businesses
and
some
large
businesses
that
wouldn't
apply
to
this
to
have
cost
associated
with
complying
with
the
statute.
That's
not
my
intent
to
raise
the
cost.
There's
been
some
conjecture
out
there
that
california
law
costs
55
billion
dollars
worth
of
cost
for
companies
to
comply
with
this
legislation.
That
is
not,
in
my
intent.
D
I'm
sure
you're,
aware
of
that.
But
I
just
also
say
I
do
think
you
know
I
hope
to
include
law
enforcement,
those
discussions,
because
we
want
to
make
sure
that
sometimes
that
information
can
be
very
helpful
to
them,
that
these
companies
are
collecting
for
them
to
to
prevent
those
those
those
types
of
activities
from
occurring.
A
A
You
and
next
on
the
calendar.
We
have
one
that
we
rolled
to
the
hill
and
it
was
item
number
five
house
bill
1329
by
representative
harris
representative
harris
you're
recognized.
Do
we
have
a
motion
on
the
bill?
We
have
an
amendment
filed
by
a
committee
member,
and
so
we
want
to
go
to
that
first
and
get
a
motion
and
a
second
on
it
and
the
the
what
the
code,
the
sure.
A
I
need
to
cut
the
drafting
code
6816..
Okay,
that's
what
we
have
too.
So
we
have
a
motion
and
second
on
the
amendment-
and
you
are
recognized
representative
powell.
Thank
you,
mr
chairman.
I'm
sorry
without
objection,
because
this
was
a
light
file
amendment
by
a
committee
member,
but
we
have
no
objection.
We're
gonna
go
ahead
and
accept
it.
Okay,
thank
you.
D
D
A
I
I
So
this
original
bill
before
the
amendment
was
made
to
just
put
the
cap
on
in
place.
Payday
loans
have
become
the
face
of
predatory
lending
in
america.
For
one
reason,
the
average
interest
rate
on
the
average
payday
loan
is
391
percent
and
that's
if
you
pay
it
back
within
two
weeks,
if
you
can't
repay
the
loan
and
the
consumer
financial
protection
bureau
says
80
of
payday
loans,
don't
get
paid
back
in
two
weeks,
then
your
interest
rate
source
to
521
percent
and
continues
to
rise
every
single
time.
I
However,
payday
lending
loans
average
three
hundred
and
ninety
one
percent
nonetheless,
research
by
the
saint
louis
federal
reserve,
shows
that
more
than
12
million
americans,
mostly
poor
consumers,
without
access
to
credit
cards
or
bank
loans
instead
turn
to
payday
lending
to
solve
short-term
financial
problems
in
2019
they
borrowed
29
billion
and
paid
an
astonishing
9
billion
in
fees
to
do
so.
According
to
the
federal
reserve.
I
In
my
district
alone,
we
went
from
one
payday
lender
to
23
in
the
last
10
years:
federal
law,
caps,
the
federal
law
caps,
the
apr
for
veterans
at
36
percent,
predatory
lenders
have
been
swindling
consumers
for
a
long
time.
Both
federal
and
state
government
have
taken
notice
and
38
states
now
capped
the
apr
at
36
percent.
We
are
one
of
just
a
handful
of
states
that
allow
payday
loan
companies
to
do
as
they
wish,
so
that
is
the
gist
of
what
this
bill
does.
I
However,
so
that
way,
I
can
get
I
kind
of
learned
quickly
how
to
count
the
votes.
So
that
way,
I
can
make
sure
that
this
actually
goes
somewhere
and
we
actually
have
a
conversation.
True
conversation
about
how
payday
lending
affects
our
state
specifically,
I
would
love
to
send
this
to
tasser
if
possible.
Thank
you
sure.
A
A
E
A
Thank
you.
Do
you
have
another
comment
representation
and
I
I
concur
with
chairman
vaughn
that
when
you're
looking
at
doing
that
to
try
to
because-
and
one
thing
you
know
as
we
live
in
capitalism
and
a
free
enterprise
system-
we
you
know,
we
want
to
make
sure
that
everybody
has
an
opportunity
and
if
they
don't
like
the
right
to
one
place,
they
can
go
to
another.
A
I
just
want
to
thank
you
all
I
want
to
thank
legal.
Jamie
has
done
a
great
job
and-
and
we
really
appreciate
jamie
shanks
and
then
our
research
person,
ben
voitus
and
our
our
clerk
heather
vandergrift
and
maura
vaughan,
no
ken
to
kevin
vaughn.
Thank
you
for
for
helping
us
out
too.
So
we
want
to
thank
everyone
and
we
are
going
to
close
the
committee
and
subject
to
the
call
of
the
chair.
Thank
you.