Patrick Toomey actually said...

regulators, some regulators, are pressing all banks to use SOFR without any transparency or public input.

It is frustrating that we are forced to spend taxpayers' time and money cleaning up after the biggest banks, again and again and again.

This raises serious questions about what kind of transparency we can expect from this agency.

If Members of the Committee ask you a question, you have an obligation to provide a response.