Barney Frank: “So, in other words, Washington knows best on that, and that is the one size fits all. That is a fair point that ought to…”

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.

It was a great mistake to push lower income people into housing they couldn't afford and couldn't really handle once they had it.

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…