Jeb Hensarling

I would urge the Council to make every effort to conduct its review in a manner that maximizes transparency and accountability.

Federal agencies now have virtually unfettered discretion to expand their regulatory control through a designation process that is opaque, secretive, vague, open-ended, and highly subjective.

The Dodd-Frank Act represents a breathtaking outsourcing of legislative power to the Executive Branch.

FSOC is about one thing: increasing Washington's control over the U.S. economy, thus curtailing both economic freedom and economic prosperity.

I suppose there is a possibility their representatives fell asleep during the proceedings and neither objected or consented.

FSOC did not come down from heaven, perfect in every way, and there is certainly room for improvement.

The lack of transparency and due process injects needless uncertainty and instability into our financial markets.

I understand that, Mr. Secretary.

I guess de facto, there was consent.

I don't know many folks in Texas' 5th Congressional District, which I have the honor of representing, whose family budget has seen an 80 percent increase in the last 10 years.

I will always have an open mind on the issue, but it is not an empty mind.

Regrettably, we still live in an economy where 1 in 6 people are on food stamps.

Even President Obama, with whom I rarely agree, called the law a game changer for entrepreneurs in capital formation.

You certainly create the impression that you are trying to impose a standard upon others that you are incapable of living under yourself

For an agency that is supposed to be policing abusive practices, to essentially engage in de facto rulemaking without engaging in de jure rulemaking, strikes me as an abusive practice

We are not here to be judge and jury, but we are here to investigate.

I have been moved by what I have heard. And, again, let me add my voice to the voices you have heard congratulating both of you ladies for the courage that you exhibit and for coming forward today.

And to think, again, that in 2014 we are hearing evidence of Government-sanctioned discrimination is beyond the pale.

There is a reason, perhaps, that the CFPB is historically the least accountable, most powerful, Federal agency we have seen.

I think the latter. Increases in revenues have to be part of the equation...

Nobody raises their hand.

I believe any reasonable examination of history and economics will show that we are, indeed, headed for a debt crisis. It is the most foreseeable crisis in our Nation's history.

The solution isn't spending more money. The solution is spending money more wisely.

I favor raising the minimum wage, which hasn't been raised in a long time, but I think even more important is to raise the Earned Income Tax Credit, which is a more effective, more targeted way of reaching low-income people.

I am very pleased to yield 1 minute to the gentleman from Pennsylvania (Mr. Kelly).