Jack Reed actually said...

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

"I would suggest that you adopt a policy immediately that you are not going to rely upon bank-selected or regulated-selected consultants."

"I think you have got to have a new process, and I think if the process requires modification of Federal rules and regulations, that is something that the OCC and the Fed should immediately demand of u..."

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