Yes. Do any of our other witnesses have any comments on this area, the utility of a national standard for a secure digital ID provided by States?

The mobile ID rollout in the United States has been fragmented, with some States moving much faster than others to adopt the technology.

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?

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?

Emerging technologies like artificial intelligence present new opportunities to make our financial system more secure, inclusive, and efficient.

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

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.

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

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.

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

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 attack.