Robert Menendez actually said...

"I hope we can strike the right balance between reducing compliance costs without undermining regulatory objectives."

"We should be open to calibration, however, in both directions, areas where protections may need to be strengthened and areas where the law may need careful tailoring to reduce costs of compliance and ..."

"As the Committee considers proposals to change financial stability measures, it is important, in my view, to distinguish between those that are aimed to reduce costs or prevent unintended consequences..."

"Not only do the victims, who are disproportionately low-income and vulnerable populations, lose millions of dollars to these schemes each year..."