Barney Frank: “I do think there is a tendency for an overreach by the FSOC. I do not think straightforward insurance companies or money…”

For example, there are key differences in product characteristics between payday, car title, and other high-cost secured loans and more traditional closed-end unsecured lending and related products, and the products are often regulated…

I think it is clear that Fannie and Freddie are sufficiently secure so they are in no great danger.

Congress generally, and this subcommittee in particular has historically played a critical role in strengthening accountability at the World Bank.

I urge staff to pay close attention to the differences in products offered by nonbank institutions and to be mindful of Congress's intent in financial reform that State consumer protection laws be preserved to the extent possible.