But you feel like you have adequate authority. You do not need any additional authority to do it. You just need the resources.

Thank you, Mr. Chairman.

I am very pleased to have sponsored with Senator Merkley the Stopping Abuse and Fraud in Electronic Lending Act, with the acronym of SAFE Lending Act.

Good. Thank you very much, Mr. Wright.

Thank you, Ms. Smith.

If the concern we have is about a product that is designed to ensnare people in repeat loans over time so that it is possible to extract from them 200 percent interest, then it seems to me that Ms. Smith is describing such a product from…

to describe yourselves as being part of a heavily regulated entity when it is the case that by her direct testimony we have someone here who received loans that were rolled over for five years.

By my calculation, just back of the envelope, I think it is about 200 percent annual interest that she paid.

Good. Thank you very much, and thank you very much for your indulgence.

Right. And then I think you mentioned earlier, and I just want to see if we can kind of go through a list here, the idea of making sure there is a level playing field, and that is that everyone must be compliant with local State laws on…

So, I take it, more restriction on the lead generators, too----