Elizabeth Warren

I hope we have given good advice.

We have provided advice to Federal and State officials regarding a potential settlement--servicing settlement.

Together, we can create a fairer system that works for families and works for the community banks...

The most constrained and the most accountable agency in government.

It is up to the President of the United States under Dodd-Frank to make the nomination.

Thank you, Chairman McHenry, Ranking Member Quigley, and members of the subcommittee for inviting me today to testify about the work of the Consumer Financial Protection Bureau.

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…

The role in ongoing mortgage settlement negotiations was limited to 'advice.'

I have tried to help the President in any way I can on the nomination process.

Our job is to be there on the front end, and we are taking enormous strides in that direction right now.

Community banks work hard to be trusted long-term partners with the families they serve.

We have provided advice to Federal and State officials regarding a potential servicing settlement.

Well, it is obvious. If we had not done these things, we would have been back in the Stone Age.

Her insistence that the TARP was created to help every American, not just those on Wall Street, remains the guiding principle of our work.

She will report to Treasury Secretary Timothy Geithner.

You designed it around servicers who--I wrote it down when you said it. Servicers have done a terrible job.

I was surprised by your answer to Dr. Troske about the metric for success on the home mortgage foreclosure program.

Fannie and Freddie are pushing mortgages back to these large financial institutions because they say that the mortgages that were sold to Fannie and Freddie were not of the quality that they was represented.

How can you be confident about the stability of these financial institutions without re-running the stress tests?

I am sorry, Mr. Secretary. Just so we are all clear on this, the numbers about concentrations of commercial real estate come from the banks' examiners.

This hearing of the Congressional Oversight Panel is called to order.

The financial problems of these banks are straining their ability to lend to small businesses that might otherwise be driving the economic recovery.

I think your point about the accomplishments of TARP are quite significant and your emphasis on the importance of a stable, functional financial system is what I would like to talk about.

Our latest reports have covered a great deal of territory from the Government's interventions in specific companies such as GMAC and AIG.

It seems clear that these efforts have had an important impact: markets have calmed greatly since the turbulent fall of 2008.