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.
I would like to welcome Richard Cordray, the newly appointed Director of the Consumer Bureau.
I'd just remind my good colleague on the other side of the aisle that we were here. The House Republicans were here December 22. December 26, conferees weren't even named yet. I was here Thursday and Friday of New Year's working on the…
I am pleased to yield 3 minutes to the gentleman from Illinois (Mr. Kinzinger).
At this time I am happy to yield 3 minutes to the gentleman from Pennsylvania (Mr. Fitzpatrick).
I am pleased to yield 2 minutes to the gentlewoman from Tennessee (Mrs. Blackburn).
I would just like to remind my colleague on the other side of the aisle that when you get a credit card bill that you can no longer afford, you do pay it, but you cut it up, and you stop the spending so you don't exacerbate the problem…
I am happy to yield 3 minutes to the gentleman from Texas (Mr. Paul). (Mr. PAUL asked and was given permission to revise and extend his remarks.)
I send to the desk a privileged concurrent resolution and ask for its immediate consideration. The Clerk read the concurrent resolution, as follows: H. Con. Res. 96 Resolved by the House of Representatives (the Senate concurring), That the…
Your testimony has provided us critical insights as we grapple with what we recognize as a common challenge, which is to grow jobs here in this country, and to use our securities laws to help facilitate job growth without endangering…
Following up on this issue of the independence of these consultants, is there any prohibition on future work that these companies can do with the party that they are independently supervising?
If they find proprietary information that is potentially material to investors in terms of the behavior of these servicers, are they obligated to inform you and the Securities and Exchange Commission of their findings?
Wouldn't it be very similar to the process you went through screening the proposed firms that were selected by the company being reviewed?
Doesn't that sound somewhat discordant in terms of your ability or capacity?
May I ask, why was that not done earlier, when you were designing the program, thinking about how you would structure the selection of independent consultants, how you would screen the consultants, how you would communicate with consumers?
Are you confident now that, going forward, servicers will, in fact, know if an individual is subject to the Servicemembers Civil Relief Act going forward?
Ultimately, we believe these collective efforts will help address concerns about the foreclosure process.
The Servicemembers Civil Relief Act has been on the books since 1940, and I am pleased from what you said, that you are going to have 100 percent review of every--I want to make sure I heard you correctly--of every file involving a…





