Political Quotes

“I recognize the principles of this legislation, which seeks to increase government transparency, but as the ranking member of the Senate Banking Committee, I also recognize the need for regulatory agencies to thoroughly fulfill their oversight and supervisory responsibilities over our Nation's financial institutions and the health and welfare of our financial system. The financial regulatory agencies are responsible for ensuring the safety and soundness of the financial system, compliance with Federal consumer financial law, and promoting fair, orderly, and efficient financial markets. Effective regulation requires that financial regulators have full access to information from regulated entities, and regulated entities should be confident that regulators will be able to protect an entity's confidential information from disclosure. Congress provided for this important exchange of information in the Freedom of Information Act, FOIA, by protecting supervisory information specifically in 5 U.S.C. Sec. 552(b)(8), commonly referred to as exemption 8, and more generally in other exemptions. Accordingly, I appreciate that S.…”