Elizabeth Warren actually said...

The test for safety and soundness is not whether or not the activity is legal or illegal.

Warren emphasizes that safety and soundness depend on potential threats, not legality.

11/20/2014

More Elizabeth Warren Quotes

These loans can have pretty shocking fine print, for example, effective interest rates over 100 percent.

It is probably a loan.

Thank you, Chair Collins. I want to thank you for holding this hearing today. This is really important.

They are trying to avoid laws that govern loans.