Jack Reed actually said...

"Do you still think it is the best alternative?"

"Let me ask the Federal Reserve, because you have a slightly different legislative structure."

"I think, Mr. Stipano, you said it, that basically the core of this issue is financial harm to borrowers because of the wrongdoing of banks, not because of just the economy moved and they were unfortun..."

"I would suggest you look into the authority question, and I would suggest that both the OCC and the Federal Reserve adopt that approach."