Richard Shelby

I think it starts with the best customers in the world, and we recognize that.

Has dramatically curtailed payday loans to active duty servicemembers.

I would also ask that you bring up the Treasury because the Federal Housing Finance Agency has to consult with Treasury on this.

Do you all agree that the worst thing a lender can do is overload anyone but especially a young servicemember, 19, 20, 21 years of age with debt they cannot carry?

I do agree with the economist here that a lot of consumers do not understand the adjustable-rate mortgage.

The 30-year fixed-rate mortgage would not be available to consumers.

Today's hearing, as you said, will examine the pros and cons of the Federal Government continuing basically to subsidize the 30-year fixed-rate mortgage.

You have got to follow the facts--

The Islamic Revolutionary Guard is not just an elite military unit within Iran.

For sanctions against Iran to be as effective as possible, I believe the Administration needs to do a better job at securing the cooperation of the global community.

The heightened sanctions have not yet produced any significant change in Iran's behavior regarding its nuclear program.

Iran remains one of the more serious threats to the national security of the United States and our allies.

Iran's role as the leading state sponsor of terrorism.

I think that is important that they are drinking out of the same cup, so to speak.

But you are basically saying this Administration is not in any way coming out for any type of wage and price controls of any kind?

The market should determine a lot of that, should it not?

When asked about the fee, the President stated, as I understand it, that the banks do not have a right to get a certain amount of profit.

This week, earlier this week, the Bank of America--I guess it is our largest bank; I know it is in deposits--announced that it would charge a monthly fee to consumers, I guess on credit cards.

Well, that makes no sense.

But if they have liquidity, doesn't that help?

Do you have confidence that the European banks and the regulators there will comply with Basel III, the spirit as well as the letter of it?

But not too much time. I mean, not 25 years from now.

We think it would strengthen the Bureau.

Do not get optimistic on that.

Well, we would hope you would consider, you and the President, changing three modest things in the Dodd-Frank bill.