The Dodd-Frank Act created a Federal Insurance Office (FIO) within the Treasury Department to gather information about the insurance industry.
Jack Reed
The Public Record
Jack Francis Reed is a United States Senator from Rhode Island, serving since January 7, 1997. A member of the Democratic Party, Reed has been an influential figure in the Senate, particularly known for his work on the Armed Services Committee. Throughout his tenure, he has focused on issues such as national security, veterans' affairs, and economic development. Reed has also been involved in various legislative efforts aimed at improving education and healthcare access for Rhode Islanders.
It is helping men and women in uniform, as Senator Reed pointed out, preventing them from being targeted by bad actors.
To block his appointment simply to express displeasure with either the process or the substance of the law is the wrong way entirely.
Thank you for your willingness to serve, Mr. Cordray, in a very difficult time and in a very challenging office.
I am someone who believes very strongly that the work of the Consumer Financial Protection Bureau must go forward and should go forward under the direction of Mr. Cordray.
We want consumers to have a voice, and, frankly, the notion that this is unchecked, unbounded power is simply wrong.
I think the other thing that we have to recognize, too, is as we go forward we are, I think, trying to ensure that we do not replicate the crisis of 2008.
We have collectively for generations, both Republicans and Democrats and everyone else has said putting people in homes is key to America.
there is a lot of capital going into this market because of the way it is structured, the guarantee, the credit risk aspects.
And I will not put words in your mouth, but if it is a single issuer, that likely could be a Government entity.
the 30-year mortgage would be less available. Mortgage credit would be less available, and the credit availability that you would be able to access would be at a significantly higher price.
these are challenging economic times and Republicans have taken us to the edge of the cliff. In the limited time left to prevent government default for the first time in our Nation's history, I think we can all agree on at least one…
So one of the aspects of creating this new--and we all understand this is not going to happen next year, this is a phased adaptation going forward--would be to provide investor protections, but perhaps not in the same way that is done…