I think it does a lot of damage to the credibility of the OCC, damages economically, when an institution receives an approval, stands up an operational business, complies with the conditions under which the approval was granted, and then…

If the Administration were serious about promoting competition, it would seek to reduce the regulatory burdens imposed by Dodd-Frank.

Thank you for emphasizing that.

Regulators should want these innovative financial institutions to enter the regulated financial system.

The hearing today is about USMCA enforcement 1 year in, and several witnesses have alluded to the importance of what the Biden administration calls 'worker-centered trade policy.'

We need to make sure the American economy remains the safest and most dependable in the world.

Cryptocurrencies are a growing part of our lives and economy.

It is called diplomacy.

A significant impediment to cryptocurrencies becoming a widely used store of value or medium of exchange is their price volatility.

Hundreds of millions of dollars of U.S. taxpayer money are set to be spent in Mexico to monitor their environmental and labor practices.

Thank you very much. Thank you, Mr. Chairman.

There is a potential there.

We have had a little discussion about miners, and miners play an essential role in validating transactions and maintaining the infrastructure.

The American economy and the American workforce indisputably benefited enormously from NAFTA.

To whom much has been given, much is expected.

It would be profoundly misguided for the Biden administration to throw the State-based insurance regulatory regime out in pursuit of its climate agenda.

Climate stress-testing is a good idea. We want to make sure that our institutions are robust in an uncertain future.

However, we must also recognize at least three important points.

Today, the Committee will discuss climate-related risks and the ways in which the insurance and reinsurance industries are evolving and adapting in response.

Investment we make now to shore up our infrastructure will both create jobs at home--jobs that can't be sent overseas--and make our industries more competitive.

Even the Financial Stability Board acknowledges the massive uncertainty.

Now is the time to tackle this problem, to protect our vital infrastructure and American competitiveness.

We cannot continue on this path. Now is the time to tackle this problem, to protect our vital infrastructure and American competitiveness.

the scenarios they are use are predicated on several very dubious assumptions.

The economy has come roaring back from COVID. GDP is above its prepandemic level, and the Fed forecasts GDP will grow by a robust 7 percent this year.