Elizabeth Warren

Well, I like to think that it is good to get advice.

This is a real chance to see government work for me. This is chance to have somebody on my side.

I have never seen this. But I do want to say, Mr. Chairman, we will do our best here.

I appreciate the opportunity to discuss that oversight today.

I have talked directly with community bankers in all 50 States.

We want to make prices clear, and we want to make risks clear.

Let me begin by assuring the committee that at the CFPB we are working nonstop to build an effective organization, with the goal of making consumer financial markets work better for consumers and work better for financial services…

We appreciate the committee's important oversight role and welcome the opportunity to respond to your interest in how the Bureau is being organized and operating.

Nearly every product sold in America has passed basic safety regulations well in advance of reaching store shelves. But credit products, by comparison, are regulated by a tattered patchwork of State and Federal laws that have failed to…

I think information is power, I really do, but it is powerful when you use it.

Congressman, I believe the language you are quoting is out of the Dodd-Frank Act, and it is Congress' intention.

We are an open door on this subject.

What we are trying to do is build a system to deal with complaints.

So what we will be doing--and I really want to give a shout-out here to five of the largest credit card companies in the country who are working with us right now on a way that, as soon as we receive a complaint, that complaint can go…

Congressman, we had an agreement for the time this hearing would occur.

Congressman, you are causing problems. We had an agreement for a later hearing.

She's got her own limitations. she's trying to protect our constituents, yours and mine, big time.

It's been hard on American families.

We have seen very little accountability among the largest financial services providers

I suspect though, sir, there is a large differential.

Congressman, during the time these agencies have been around I believe that financial products have become more complicated...

Congressman, when you asked to change the time four times in the last 12 hours...

I believe that an empowered consumer is a consumer who can not only protect himself or herself but one who can change the market.

We have, as part of our responsibility under the Consumer Financial Protection Bureau laws, undertaken consumer financial education.

I believe that consumers want to learn.