"There is no oversight from Congress in that process."
"The cap on our budget is set at just under $600 million."
"We have already begun the process of hiring some people."
"I truly believe the title of this hearing today and really the GOP efforts in general should be: Let's pretend the financial crisis never happened."
"And in response to this crisis, with overwhelming support from the American people, we created the CFPB, and it is carefully constructed, urgently needed, and should be allowed to go into operation as..."
"There was an astonishing abuse of power, of confirmation power in the Senate."
"I would say that there is a lot of unfounded concern about lack of oversight on this agency."
"So far as I know, there is no agency anywhere in the Federal Government whose rulings, once arrived at through the full process, could actually be overruled by a group of other agencies."
"As Congress has known since the middle of the 1800's when they made the decision in the establishment of the first bank regulator to make the funding for that regulator outside the appropriations and ..."
"But we are capped, and there is only a certain amount of money that comes to this agency to carry out its functions before we would be forced to go into the political process."
"We are really trying to develop more effective complaint resolution in the consumer agency on a product-by-product basis."
"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 ..."