Pub. 13 2016 Issue 2

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S 12 Western Caucus. He strives to make New Mexicans’ voices heard, help create jobs in southern New Mexico, and fight for the liberty of all Americans. Question: What is your background and what key experiences best prepared you to serve as a United States Congressman? Congressman Pearce: I come from humble beginnings in a small town in New Mexico. I believe my upbringing, my military service, andmy time in business were the foundational experiences that prepared me for service in Congress. Early on, I learned the value of a strong work ethic and the importance of goals and tenac- ity in everyday life. And, both the military and business teach the importance of teamwork for the betterment of others, the value and significance of strong leadership, the weight of being responsible to work for and to serve others, and how the government operates and interacts with the public on a daily basis. Question: What lead you to serve on the House Financial Ser- vices Committee? Was this an assignment you sought? Congressman Pearce: I was driven to serve on the Committee based on the importance of the financial sector to the success and development of the American economy. During my time in busi- ness, access to capital and banking services were essential. Without stable, strong, and confident financial system, it would be near im- possible for businesses to start, expand, or modernize. I began my service on the Committee in 2005, and have been honored to serve ever since. I believe as a westerner, a former business owner, and representative from an extremely diverse Congressional District, I have a critical voice and role to play on the Committee. It is a posi- tion I hope to continue to hold for years to come. Question: Themedia often suggests that little gets done in Con- gress. What is your perspective on this notion? Congressman Pearce: The Congressional process is meant to be reflective of the voice of the people. It is the duty and responsi- bility of Congress to react to the demands of the people we repre- sent. Congress continues to show an ability to do this when people stand up. The reform of the VA in 2014 is the perfect example. Less than two months after the horrific actions of the VA came to light, Congress acted and passed the largest reform of the VA since its  Legislative Profile  continued from page 11 creation. When we come together, as a people, things get done. I think now, more than ever, we need to own this notion and come together. Question: A number of financial industry regulatory relief mea- sures, many of which you have authored or co-sponsored, have passed theHouse with bi-partisanmajorities only to languish in the Senate. Is there any advice you could offer to the banking industry to assist us in getting that legislation enacted? Congressman Pearce: As I mentioned in the previous ques- tion, continue to make your voices known. Continue to work in collaborative ways with a diverse group of individuals, busi- nesses, and industries to highlight the importance of action to not only the people of New Mexico, but to the American economy. It is the issues with the broadest support and loudest voice that will force the Senate to act and send the critical work the Financial Ser- vices Committee and the House have been doing to the President’s desk. Question: A major issue in the banking and retail industries is cyber security and data breaches. What can the banking industry expect from Congress on the issue in 2016 and 2017? Congressman Pearce: A continuation of work that has tak- en place at both the Financial Services and Energy and Commerce Committees so far this Congress. Financial Institutions have strong data and personal information requirements under the Gramm Leach Bilely Act (GLBA). Congressional action must find the ap- propriate balance between allowing financial institutions to con- tinue complying with GLBA, while ensuring retailers and others have similar strong national standard for information security and breach notification. This is by no means a simple task, but as we have seen from the increase in breaches over the last few years, ab- solutely necessary to protect consumers and financial institutions alike. Question: Whether bank-related or not, what are your 2016- 2017 legislative goals? CongressmanPearce: For the remainder of 2016,my staffand I are focused on pushing a number of multi-year efforts over the finish line. Solely associatedwithmywork on the Financial Services Committee, the office is working to reform the CFPB by altering the agency’s definition of “QualifiedMortgage” for rural and low in- come areas, and changing the agency’s perception of manufactured I began my service on the Committee in 2005, and have been honored to serve ever since. I believe as a westerner, a former business owner, and representative from an extremely diverse Congressional District, I have a critical voice and role to play on the Committee. It is a position I hope to continue to hold for years to come.