if the Bureau can easily ignore a statute, it raises the more serious question of whether Congress or the Bureau has the final say over what the law is

I share your outlook on that, Senator, and I have talked repeatedly to community bank groups and credit union groups.

Dodd-Frank granted the Bureau the power to set its own budget and spending priorities without any Congressional oversight

It seems like that is what you are doing. I hope that is not what you are doing. If you do, we are going to hold you accountable.

I do not believe you can change that by a rule.

the Bureau appears before us, as always, completely immune from Congressional oversight

A lot of this could have been prevented. I don't know where the regulators were on this, they certainly were asleep.

Do you disagree that if the statute is clear, unambiguous, that you cannot change that statute by rule?

the Council's view of Dodd-Frank... fails to mention their enormous cost to the economy.

not even a Council headed by its own Treasury Secretary I believe can hide the President's failure to revive the economy and put Americans back to work.

But historically a lot of banking has been based on trust, has it not, integrity?

It hurts the whole financial system, it hurts us all, does it not?