Sherrod Brown

But I do think that there may be scenarios where that exchange actually is worth it.

I have a couple questions left. Professor Omarova and Mr. Knight, if I could direct the first one to you.

I would argue, respectfully, that the vast majority of the hacks that we see in the financial ecosystem are at the incumbent financial institutions, not the FinTech players.

Rather than learn from past mistakes, the Treasury report embraces the shortsightedness of precrisis regulators.

I think that there may be circumstances where allowing that sort of exchange can actually be beneficial to the consumer.

In the run-up to the financial crisis, Wall Street banks bragged about innovations that they claimed made the financial system less risky and credit more affordable.

There need to be standards for data security in this ecosystem.

Eventually, so-called financial innovations led to the biggest economic disaster in almost a century, costing millions of Americans their homes, their jobs, and much of their savings.

There is, as I remind many of my colleagues here, a bit of collective amnesia on this dais and in this Senate.

The new leaders at the Federal Reserve, the OCC, the FDIC, and the CFPB have already made it clear that they are ready to give Wall Street whatever it asks for.

Just like a dozen years ago, Wall Street banks and big companies are making record profits, but working families are struggling just to get by.

This is not a partisan issue for me.

I look forward to a broader discussion this afternoon on resisting Putin's aggression from a broader range of geoeconomic and strategic policy options available to the United States and its allies.

Russian abuses in Crimea and Eastern Ukraine, Syria, and here in the U.S. against our elections and other critical infrastructure are common knowledge.

As we have heard in prior hearings, there is little disagreement that while sanctions have had some effect on Russia's economy, they are not having much effect on Putin's decision making.

We must, as a Nation, find that prescription for sanctions and other measures that break the factors contributing to a Russian resilience to economic sanctions and put real pressure on Putin to change his map for Kremlin hegemony.

There is no question that Putin must pay for his actions and that the United States has the ability to impose real costs against Moscow.

President Trump's efforts to try to undermine what are established conclusions of fact by the U.S. intelligence community about Russia's involvement are well documented.

There is little dispute sanctions are not yet having their intended effect.

It is not clear they are doing much to, most importantly, actually change Russia's behavior.

Sanctions are a means to an end, not an end in themselves.

Administration officials identified Russians responsible for supplying chemical weapons components for use in Syria, the ones that killed and maimed men, women, and children alike.

We must send a more powerful and direct message to Putin and those within his circles: We know what you're doing, it must stop, and if you continue, you and your Government will pay a dear price.

The Ukrainian community in Ohio and around the world knows firsthand... the dangers of unchecked Russian aggression.

Russia's election interference... poses a problem that goes far beyond foreign policy and strikes at the core of our democracy.