I would ask your assurance to all of us that in that balance you will be pressing your organization to push upward as far as the facts and t...
The standard credit card agreement gives the lender the power to bleed their customers through evolving and ever more crafty tricks and trap...
This makes me think that we need to really look at substantive regulation.
We have lots of disclosure, but we really have obfuscation by disclosure.
American consumers are relying more than ever on credit cards to just make ends meet from month to month.
High-interest-rate debt is financial quicksand for consumers.
The hearing will come to order.
you need to do more here, and that is one of the main tools that we have, is that type of horizontal review.
Let me talk to Mr. Cole. As the umbrella regulator of several large financial institutions, do you feel that you are responsible, the Federa...
the fact that they did not have systems in place to adequately assess the risk, which I think is a fair conclusion of the report of the GAO.
it raises an issue, which is that in 2006, you had at least had serious concerns because of the stress testing that these firms could not ha...
I would presume, and correct me, that those procedures, those appropriate procedures you described, were not being deployed very successfull...
But there is another way sort of to get the message across to the marketplace, and that is enforcement action.
You know, where was the risk assessment at the enterprise, as you described it?
Yes. Mr. Long, the same sort of set of issues about reliance upon information and being a captive of the regulated entity.
I will say, though, that in terms of really doing our job, if we sense that there are deficiencies and need to do more than the functional r...
Well, let me raise--because this has been publicly discussed.
But, you know, it goes back to the question I raised before, to which I think you affirmatively responded, that in terms of overall risk mec...
