"The result of rulemaking and enforcement by blog post? Fewer consumers are actually protected, and fewer options of financial products will be made available."
"Unfortunately, the Consumer Financial Protection Bureau, or the CFPB, is a notable exception. It is not accountable to Congress or the American taxpayer through the appropriations process."
"Director Chopra has taken full advantage of that loophole."
"Thankfully, our Government has a system of checks and balances, one of which includes congressional oversight and the power of the purse--appropriations."
"I am still very concerned about that, and frankly, this approach not only circumvents Congress, but it takes the public's chance away to comment and provide feedback on the CFPB's proposals."
"As a small business owner for several years, one thing I would want from my Government is certainty and predictability."
"the approach of trying to eliminate the credit card fee sounds great because, as I said, no one wants to pay the fee."
"the truth of the matter is that fee is going to be paid just in a different form."
"the fact of the matter is that some fees are, as I said in the opening statement, it provides discipline, financial discipline."
"I think you are one of the best witnesses that says a lot in a very effective way."
"If you take out a loan, you pay it back."
"The argument I had, sir, was about the importance of making sure that when you can see it, you can bill for it."