American consumers rightfully expect their personal information should be protected by their Financial Institution by their retailers, payment processors that neither federal government. Consumer should be left to hope and pray that all information will be safe every time despite their debit or credit card or rent your information online. They deserve protection. Today the committee will hear from representatives of organization to constitute major participation for the Payment System. We welcome their expertise and insight. My hope is they carried out for its members on both sides an opportunity to better understand what security measures are currently in place to prevent data breaches, how consumers are notified and what types of emergency technologies will help reduce the frequency and severity of breaches and what steps are being taken by the merchant in Financial Services communities to address the problem and where additional federal legislation may be warranted. I further hope t
Discussion and help move transportation and infrastructure policy forward. Thank you very much, and i look forward to our discussion. Thank you. [ applause ] go ahead and sit in the middle. And rich, if you join us on the end there. Well have some q a here. Well chat a little bit and then time to open it up to some questions from you all in the audience. Thank you both for being here. As i said at the top, a host of issues where the chamber and the aflcio, organized labor do not see eye to eye. I saw mr. Trumka and on this issue there is so much overlap and the question is raised immediately, if organized labor and the Largest Business Group in washington are on the same page, why cant this get done. Maybe ill go to you, rich, first. Whats standing in the way . Youve looked at this issue and battled over this for years. Whats in the way . Its pure politics right now. In the past this was always a bipartisan issue. There was never bickering. Everybody knew that you had to keep the count
Wealthy, it was structured to make American Society homeowners. And now were in 2013, and its only the wealthy who have access to the conventional market. And we need to be much more aggressive about thinking through one of the appropriate measures to use such that the governments backstop, whether its fannie or freddie or private institutions, actually serve a public purpose which is to build Home Ownership across the income and across the racial spectrum in america. You know, im not as intelligence at the three of you to be able to remember all six questions david asked [laughter] thats why were answering just one. But i think your question was, you know, with Interest Rates rising, is that going to create any urgency . I dont think it creates urgency around gse reform. Rates are still incredibly low, and even if they go to 5 or 5. 5, its historically low. So i dont think that impacts affordability tremendously. It certainly impacts the monthly payment. I dont think thats going to ha
The ftc is committed to protecting Consumer Privacy and Data Security in the private sector. Since our first Data Security case in 2001, the ftc Data Security program has been a strong bipartisan effort that includes Law Enforcement to my education, and policy initiatives. Several lawsces that protect consumer data. Under the ftc act, the agency can take action against companies that engage in deceptive or unfair practices, including deceptive or unfair Data Security practices. The ftc also enforces several laws that require special protections of certain business sectors. The credit reporting industry, among Financial Institutions, and also among all mine services for our kids. In enforcing these laws and investigating potential Data Security failures, the Commission Recognizes that there is no such thing as perfect security and instead examines whether companies have undertaken reasonable procedures to protect consumer data from the risk of Identity Theft and other bits use. Since 20
Factcheckers look into that. Beyond that. 201 [laughter] been 101 quite some time now. People lie about their age at 100. Im only 100. But, old age is not a thing and retirement to him honestly is more challenging. Someone who practices journalism, interest down, i can say i rarely talk about politics with my college. Most of my colleagues have no idea what politics are. But let me think about it. I live in northwest washington. None of my neighbors are evangelical christians. I dont know a lot of people and my kids preschool who are prolife. I just think, and i think of when you do have conversations, all the newspapers ive worked at about politics, you see clu clues. Jake, you didnt hesitate either. Im glad i had a chance to expand because i know that yes, yes, yes, yes is going to be taken by Brent Roselle but it is much more complicated and complex, which is a certain type of person who cooked becomes a reporter and generally speaking these are people who have not generally speakin