According to the most recent statistics, there are 58 million unbanked and underbanked folks out there.

However, this whole issue is sort of bringing us into the new frontier for our entire financial services industry.

At the outset, Comptroller Otting, let me remind you that you are not the dictator of our financial system.

Every American has the right to safe, decent, and affordable housing.

Normally, what happens is Congress doesn't actually go back and figure out, well, gee, why did that fail?

The history of Federal housing programs is, quite frankly, full of overt racism.

We are all American States, and the American people are crying out and saying, 'Congress, get your act together and let's solve this problem.'

our committee has to make sure that any changes that they may offer do not weaken the law's work to undo harmful, racially discriminatory practices in banking.

My passion is to get this committee going and also to find some democratic co-sponsors.

I strongly disagree, and I really do appreciate my chairwoman bringing this forward and giving all of you a voice.

This is an extraordinary hearing, but I do want to make a couple of points starting out.

It is going to take at least $13 billion, then we know we are serious.

this is a mistake that we have to correct.

the needs for funding have continued to grow.

I am going to start changing my risk profiles. I am going to stop insuring certain sectors.

I respectfully disagree, and that is why we introduced the bill, because I think we need to look into these risks.

83 percent of which went to the top 1 percent.

we need to deal with a revenue shortfall from the Federal Government.

It is not acceptable for bank mergers with implications for communities across the country to receive a cursory review or a rubber stamp from bank regulators.

For decades, ILCs have proven to be some of the safest and most stable banks in the nation.

I strongly disagree with both of those points, and I would like to use a bit of my time to follow up on them.

Big data and privacy are critical to fintechs.

These folks who are registered as unbanked and underbanked--you all gave us the numbers: 8.9 million unbanked households in this country.

I want you to understand, and to understand very thoughtfully, that we have to save these African-American-owned banks.

Your charge, Ms. Earp, is to make sure the Department doesn't just feed everyone, it must also do right by everyone, employees and stakeholders alike.