William L. Clay: “This proceeding is just a sequel to that very bad act. And the taxpayers will get the bill.”

Where is the compassion for the people who need a roof over their head?

We must understand the true state of the financial services industry in this country today and reject the false claims that the Dodd-Frank Act has harmed banks and consumers.

In my view, we are all here for just one reason, and that's the American people are tired of being lied to.

I view this morning's hearing as an important opportunity to discuss the challenges faced by 10 million unbanked or underbanked American households.