Bill Foster

Yes. For example, if this was in place during COVID, when we had to onboard massive numbers of unbanked customers, but the customers had had a secure digital ID, would that have been a big improvement in our response to COVID?

I have been really encouraged to see that you have raised the alarm over artificial intelligence (AI) and where that is taking the whole thing.

As the ranking member pointed out, over 82 percent of Americans and 77 percent of Republicans support the mission of the CFPB.

Since we passed the Dodd-Frank Act that created the CFPB back in 2010, the CFPB has effectively fulfilled its mission to protect consumers from unfair, deceptive, and abusive practices in financial markets, despite coming under continual…

Yes. McKinsey has estimated, I think, between 2 and 3 percent GDP loss from not having a high-quality digital identity.

I was very encouraged to hear my Republican colleagues' support for your mission, and that they agree with roughly 80 percent of Americans that you are doing something useful here.

Over 82 percent of Americans and 77 percent of Republicans support the mission of the CFPB.

You as public officials, it is becoming very easy to clone all of your voices because once it is in the public domain, there is a data set to be able to duplicate it.

The CFPB has effectively fulfilled its mission to protect consumers from unfair, deceptive, and abusive practices in financial markets.

The American banking system is sound and resilient.

One of our duties in Congress is to respond to the world as it actually is rather than the fever dreams of some sort of takeover by world government.

Today, we are going to be discussing the recommendations of various international and intergovernmental organizations.

Thank you, Chairman Barr, for holding this hearing.

I am a physicist, and I have spent I don't know how many hours getting classified briefings on the breakout time for Iran under that deal, and it was my opinion, as a physicist who understands this technology, that it was an incredible…

It was like we were in a car accident.

It was seared in pain when----

Our intention is that you actually get the 605 done so that you have upgraded reporting of quality of order execution.

I think it is particularly true where you are failing to do a rigorous cost-benefit analysis for many of the rules.

Just yesterday, Congressman Foster and I sent you a letter signed by 16 Democrats and 16 Republicans to express our concerns about the equity market structure proposals that the Commission has initiated.

I take it that you are familiar with this graphic from Bloomberg that shows you lagging significantly behind your three predecessors in terms of the number of rules you finalized in the first 2 years of your tenure?

This is another massive, centralized government database that is going to be hacked.

This is massive overkill. This is an unnecessary invasion of privacy.

This is a classic example.

I am becoming increasingly worried about the potential for internet-driven bank runs in trying to obviously generate instability.

I was happy to join Chairman Barr, in the letter to Fed Vice Chair for Supervision Barr, requesting more detail on the analysis and supporting data that were used to develop the Basel III Endgame proposals.