Michael S. Barr: “I thought it was really quite admirable the way Republicans and Democrats worked together on that legislation.”

I have said repeatedly that banks, according to our rules, are well-capitalized today. Our banking system is sound and resilient.

I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.

We are playing right into China's strategy.

We definitely want innovation in our banking system. Innovation has been critical to having a thriving financial sector and a thriving economy.