Senators Wyden and Merkley, and their staff, are to be commended for writing legislation that amends several outdated laws.

We thank Senators Merkley and Wyden for introducing this bill that represents a balance amongst varied basin interests.

I look forward to working with the Chair, Ranking Member, Senator Wyden, and other members of the committee to move this legislation forward.

This bill is important for the economic security and the ecological health of the region.

I introduced this bill with my colleague, Senator Wyden, in early August.

Chairman Johnson is unavailable to attend this morning's hearing. He wanted me to personally thank you, Mr. Cordray, for being here and to commend you and your team for all of their superb work.

Thank you very much for your testimony, and as we begin questions, I will ask the Clerk to put 5 minutes on the clock for each Member and I will jump in quickly here.

The hearing of the Committee on Banking, Housing, and Urban Affairs will come to order.

I want to note that my colleague, Senator Akaka, has been, I think, very visible and aggressively working to tackle this topic for a very long time and I thank you, Senator Akaka, for your leadership in this area.

I am delighted that we can have this chance to hear from Richard Cordray, the Director of the Consumer Financial Protection Bureau.

I ask unanimous consent that privileges of the floor be granted to Jenny Carson, an intern in my office, for the remainder of the day. The PRESIDING OFFICER. Without objection, it is so ordered.

I thank my colleague from Colorado for his remarks about the production tax credit. This is incredibly important to the wind industry. It is a big factor in the economy of Colorado and certainly a substantial factor in the economy of…

We need to get our science from scientists, not politicians nor industry lobbyists.

Nothing is more important to any of us who have children than to care about the kind of a country, the kind of an environment, we are going to be leaving for them.

The first 6 months of this year have been the hottest on record for the continental United States.

If we do not act now to stem the worst effects of climate change, we are looking at once greater problems.

Global climate change poses a very serious threat to humanity.

I rise today to discuss an issue that I and many of my colleagues are very excited about: crowdfunding, which allows startups and small businesses to harness the power of the Internet to pool investments from ordinary Americans intrigued…

In America you can do almost anything.

we have about 4 million families who are underwater who do not have Fannie and Freddie loans, and they are essentially locked into high interest loans with no chance of refinancing.

I do not trust these companies to tell the truth about their chemicals, and I do not think the American public or you, as Senators, should either.

I must say that I was very struck by the Chicago Tribune story...

Is this not exactly the type of problem that the EPA is there to watch for?

Has the EPA been asleep at the switch, and has it woken up?

I ask unanimous consent that Steven Kirby, a member of my staff who is serving as an intern this summer, be granted the privilege of the floor for the balance of today. The PRESIDING OFFICER. Without objection, it is so ordered.