Catherine Cortez Masto

But there is no independent verification that you are actually doing it, correct?

And how can we in the public sphere ensure that you are doing that?

So let me ask you this: If S. 2155, which excludes 85 percent of banks and credit unions from reporting HMDA, becomes law, can you ensure that banks making fewer than 500 mortgage loans a year are not engaged in redlining or other types of…

I will tell you, in Nevada, from 2007 to 2014, there was no Federal oversight predicting what was going to happen and then there helping us address the issue.

Would you agree that the Fed underestimated the human costs of a potential financial crisis prior to 2008?

I think sound data is critically important in informing the policies and decisions that you will be making.

Washington is repeating a failed pattern of boom and bust.

When big banks are flush with profits, as they are now, policymakers should be preparing them for rough times ahead.

Somehow 'tailoring' only seems to go in one direction these days. It happens to be the direction that Wall Street wants.

I cannot imagine anybody in either party on this Committee that has sat here and listened to the litany of abuses from Wells Fargo would think that is justified to give a CEO of a bank like that a 36-percent raise.

I know I am running out of time, but with your indulgence, one quick question because I do have concerns about the Indian Energy Loan Guarantees.

It is a great business model and that is why I support them.

It's themselves, a democratic process of electing.

It's a compromise between the impact of existing members and the new members.

I have found that the co-ops are the most innovative because you have to be.

I would love to go back. I have been there before. I love the excitement as well of my colleague because I absolutely agree with Senator King.

But there are legitimate businesses that engage in abusive calls is my understanding. Isn't that correct?

There are limitations to civil law enforcement; we're well aware of that.

So there was an article in the Washington Post in January about an FTC action against a robocaller from California who had made billions of illegal robocalls...

I'm looking at--excuse me--to introduce legislation to include criminal penalties or criminal enforcement.

I am committed to making change however we can, systemic change, and I am looking forward to the USOC coming here along with the National Governing Bodies.

I agree, and I think and just from my experience, I know many law enforcement agencies have specific units that just focus on child sexual abuse.

What I would love from the four of you your thoughts.

What I have seen and heard here today unfortunately is a system failure that has allowed these predators to thrive.

Thank you for holding this hearing and to all of you for being here.