Otherwise would be required to pay and might be subject to further costs and Court Proceedings that is forgiven and wiped from the books. But yes, its meaningful relief for american consumers. And the other point that senator warren has made to me thats wrort making is every time we then correct practices, the same things dont happen going forward, and you can expect the same money being saved each year in the future but its hard to quantify that. It is hard to quantify, but every time a consumer gets a fair Mortgage Loan rather than a predatory one a great deal of help has been created in terms of a wealthbuilding enterprise versus a wealthsfriping one. I want to turn to the subject of payday loans, and youre engaged in laying out a policy framework not yet a draft regulation and taking feedback on it. In oregon we proceeded to establish a pretty rigorous framework, reestablishing a user cap on the full range of loans consumer loans, payday loans, because wed seen the migration of one area to another where states have tried to tackle the 500 Interest Rate in payday loans. But we see aggressive outreach by Payday Loan Companies to solicit people online and to do so outside the framework of state law. And in that regard about once a week i get a text message, like this one that came the other day, dillen, i dont know who dillen is, but whoever dillen is, hes one click away in a predatory loan. Dillen do you need some extra dollars . Bad credit is okay. Approved in four minutes. Click here. I am absolutely convinced this is not a payday lend earn operating under the state law. Its probably offshore as most online are. And the challenge is that with the ability to reach out to phones through Text Messages in this case, i also receive phone calls for dillen. If dillens out there and wants his phone messages, please, he can contact me. So folks then respond to this and say, great this is convenient, i dont have to go down to the brick and mortar Payday Loan Store and by the way, we still have those stores in oregon even though they operate at 36 Interest Rate. Citizens still have access to credit when they need it at a narrate, but theyre getting ensnared by these online solicitations. The way that, the reason this works is because these companies are able to use Electronic Fund transfers or remotely generate the checks to essentially once they have the number of the account of the individual, they simply reach in and grab the money, even though their loan is in violation of the law. How are we going to stop this . First of all, you may need a better spam filter on your phone, although, maybe youre picking up some good intel this way. Second, the online lending is a particularly acute problem for any enforcement regime. I saw it as attorney general in ohio. I hear about it from our colleagues at the Justice Department who battle with it and help us especially when were trying to deal with something thats international in scope like a scam we dealt with earlier this year. Some of the folks were based in kansas city, but they were incorporated in turks and caicos. I dont know where that is, someplace in the pacific maybe . Maybe its in the caribbean. I dont know. The caribbean, all right. In any event, the enforcement of that is quite difficult but important. I also one might have thought that online lending would have been more efficient because you wouldnt have to have the brick and mortar, but the default rates are so high theyre paying lead generators 300 to 400 to acquire customers. What does that tell you about a customer theyre acquiring if they think its worth paying 300 to 400 to get that fish on the line. Its going to astro numberic Interest Rates. And thats a major concern. In terms of the smalldollar loans that were working now, thats an a piece of it. The Kansas City Group that we shut down earlier last year these are things were wrestling with, because the account access, particularly, creates vulnerability for consumers and can cause them to be trapped in these loans. And they may or may not appreciate whats happening when its in the fine print, so ifs something wore its something were trying to think very carefully about. Thank you for your efforts to wrestle with this issue. It matters a lot to a family whether or not they acquire a payday loan in oregon under a 36 Interest Rate cap or whether they respond to the text message or the phone call, and end up with a 500 interest loan from a group thats operating with no accountability and just reaches in and takes money without authorization. There has to be a solution to this. Ive suggested several in my stopping abuse and fraud, electronic lending act the safe act in 2013. Continue to look for a way for fair lending to happen to help families succeed and to stop these predatory practices. And i know thats the business youre in. And youre doing an excellent job of it. And thank you for the work you do. Thank you. Director eror cordray, thank you for attending and we appreciate your testimony and your frankness. Meeting is adjourned. Thank you. On the next washington journal, fawn johnson looks at the Highway Trust Fund which is expected to expire at the end of the mond and what the house and senate plan to do about it. Then paul butler talks about his book lets get free. And then after that, Eu Ambassador to the united states, David Osullivan talks about the greek economic crisis and why greek lawmakers approved austerity measures that were overwhelmingly rejected by their countrys citizens, plus your phone calls facebook and tweets. When francis fulsome married president grover cleveland, she became a first lady with many firsts. Shes first and only first lady to be married in the white house and the youngest woman to serve as first lady. And when she died in 1947, she lived an additional 51 years after leaving the white house. Longer than any other first lady. Frances cleveland. On cspans original series first ladies. Examining the women who filled the position of first lady and their influence on the presidency. From Martha Washington to michelle obama. On cspan 3. After a nine and a half year journey nasas someplace reached pluto. It was discussed in laurel million. This is an hour. Good afternoon. Welcome to the Johns Hopkins applied physics laboratory. Im with the office of communications. To set the stage for todays press conference please welcome to the podium, associate administrator from washington d. C. , dr. John brumsfeld. [ applause ] welcome, everyone. Its a full auditorium here at the Johns Hopkins university applied physics lab. I was a little bit worried no one would show up. Actually, i wasnt worried at all. Anybody get any sleep last night . Im not hearing two many affirmations of a good nights sleep. Im not going to ask the team, because i know they were probably pretty excited about this mornings data pass, as was i. I would like to take you on a short tour to frame the discussion. Im not going to say a whole lot. The first image that id like to bring up was taken just about two hours ago by the Solar Dynamics observatory. I hope you recognize that object. And i think you know where were going. Mercury. From the messenger mission, venus. From magellan. If anybody doesnt recognize the next planet, id like you to leave the auditorium. Security will escort you to area 51. [ laughter ] [ applause ] the red planet mars. I had to get a hubble image in there somewhere. [ applause ] i realize i missed a series, which the spacecraft is orbiting right now. Jupiter with the moons and shadows. Cassini at saturn. What a wonderful mission. This is just a striking image. Neptune. And for a grand finale, i turn it over to allen stearn, the Principal Investigator of the pluto new horizons mission. [ applause ] before we turn it over to allen, ive got a few words to say. Yesterday, americas Space Program took another historic leap for humankind. Today, the new Horizons Team is bringing what was previously a blurred point of light into focus. Well have presentations from our panel. Well open it up for questions with media here. On social media. And well go to the phone lines. You can join the conversation on social media, twitter, facebook, at pluto flyby. If you have questions, send those in to ask nasa. Of course, the images and information you will hear today, for more days and weeks and months, will be online at www. Nasa. Gov new horizons. Youve heard from dr. John grunsfeld. Of course, allen stearn needs no introduction. So i will go to hal weaver, who is project scientist from the Johns Hopkins applied physics laboratory. Followed by will grundy, new horizons coinvestigator, Lowell Observatory in flagstaff, arizona. He will be followed by kathy olken from the southwest research institute. And john spencer, another new horizons coinvestigator from the southwest research institute. And with that, allen, its all yours. Thank you. I had a pretty good day yesterday. How about you . [ applause ] new horizons is now more than a million miles on the other side of pluto. Thats how fast were moving. Having made close approach yesterday morning. The spacecraft is in good health. Its communicated with the earth again for a period of a number of hours this morning, beginning about 5 50. We got data down from five of the scientific instruments already. Were going to report on some of those results. But frankly, were just skimming the top of it. Theres a lot in just the things were going to talk to you about. We have big news. From the first resolved image of hydra, plutos outermost moon, the sharing has been active. [ applause ] and there are mountains in the quaker belt. Youll enjoy that. The system is amazing. Now, all of our news today relates to the surfaces of pluto, and its satellite. Well be talking more about the surfaces in the press event on friday down at nasa headquarters. But well also be bringing in atmospheric results at this point. I do want to report one piece of news thats more or less operational, and that is that the spectrometer got a great data set from the ground from the uv solar oscillation, learning about plutos atmosphere. So stay tuned friday for that. With that, ill turn it over to hal weaver, who is our project scientist. Hals going to give you a little bit of hydrotherapy. Hal . Thank you very much, allen. Well, pluto and sharon are going to steal the day today. This is going to be these awesome images youll see in a few minutes. Lets not forget that pluto has four small moons as well that we want to collect data on. Starting from closest to the pluto, and going out. This morning we got the first really wellresolved scale. Two miles per pixel. This is about the same number of pixels across hydra. Prior to the new horizons revealing of the hydra here, we were uncertain hugh big hydra was. It could have been from 20 miles across to almost 100 miles across. New horizons has made it easy. Just count the number of pixels across. 28 by 19 miles. The elongated object, hydra is not a planet. But 30 larger in one dimension than another. This is very interesting. You see variations in the brightness across the surface. If you go to the next slide, this shows what we did here is subsample the image by a factor of four. Its four times subsampled to take away the pixelated look. And overlay contours showing the brightness, changes, and we took cuts across to measure the approximate places where you have the longest dimensions, in the green and the shorter dimension in the yellow. The surface of hydra is surprisingly large. Its about 45 reflectivity. About 45 of the sunlight gets reflected away. That can only mean that the hydra surface is composed primarily of water. The only way to get it that bright. Thats cool. [ laughter ] its intermediate in brightness between sharon and pluto. The nice thing about we have coming up actually more observations of hydra which will be higher resolution by a factor of two or three better. Were looking forward to those. But its great. Weve already seen hydra revealed. And it looks very interesting. Thank you. [ applause ] thank you. Will grundy leads our Composition Team. And is going to report some results that theyve obtained. Okay. So, the ralph instrument is the instrument where were relying mostly on for surface compositions. It has a color camera and infrared imaging spectrometer called lisa. We dont get any data down today from either of those instruments, and so what im showing you is data that came down in the failsafe data set. That came down overnight between the 12th and the 13th. So this is a little earlier. This is a base map thats just showing you the geometry. You can see that the heart region is just rotating on. So this is a little while ago. Could i have the next time stamp . This is an overlay of lisa data. So what i did is each of those large blocky pixels, about 150 kilometers across, is an infrared spectrum. It tells you what that pixel is made out of. Were going to get much higher Resolution Data than this, but this is whats in the can now. These colors are just preinfrared wave lengths. We get 256 wave lengths. We could make an enormous variety of maps to pull out the information. This particular one is focusing on methane. I put an absorption band at about 1. 65 microns into the blue color channel. A continuum region between two methane bands into the green channel. And a much stronger methane band into the red channel. All im doing here is showing, again, lower resolution than the color images yesterday, the diversity of terrains. What im going to do now is to pick out a couple of specific regions, although you can see theres many different regions here. So if i could get the next time stamp, please. These two regions of interest, ones a 3 by 3 pixel block, and another one is a squiggly thing in the darker regions. Im concentrating on the solar cap and the darker regions. The last time stamp that i have, you can see theyre quite different from each other. They both have methane. But the overall shape of the spectrum is very different. And we can really be spending years modeling these and thinking about what they tell us. Theres a lot of information. We only have a small subset of the wave lengths at this point, because we just dont have the bandwidth to get more down. But this is providing a lot of information about the different regions, and how they work. Thank you, will. [ applause ] yesterday we showed you a Beautiful Image of pluto that was made just before the closest approach, as part of the failsafe data sets. Today well show an image of a similar resolution on the big satellite sharon. Kathy will discuss those. Originally i thought sharon might be an ancient terrain covered in craters. Many people on the team thought that might have been the case. And so sharon just blew our socks off when we had the new image today. So if we can pull it up so you can take a look at it. [ applause ] so we were just thrilled. All morning the team has been abuzz. Look at this look at that oh, my god, thats amazing ill walk you guys through some of the things weve seen in the image and tell you what were thinking about. And im going to start in the north and kind of work my way down. So youve seen the darkish area that is at the north pole. And informally, weve been referring to that as moreador. Thats awesome. So morador is the darkest area near the pole. You can see, this is a natural color image. And so the red around it, the red coloring that weve seen, extends beyond just the deepest, darkest part of that polar region morador. We think that the dark coloring could perhaps be a veneer. You can see locations at the north pole where a crater has perhaps dug into that region, and excavated underneath it. So you can see those brighter regions that may be craters. So thats part of the reason why i say we think it could be a thin veneer. So, lets see. And also, you can see that that area is kind of a polygon shape. And then the red color is more diffuse around it. Moving down across, a little bit lower, going from the northeast to the southwest, is a series of troughs. And cliffs. And thats just striking to me. Its amazing to see this image. They extend about 600 miles across the planet. So this is a huge area. And it could be that its due to internal processing. And we will be looking at that in more detail. Just below that region, the line that you see cutting across from the northeast to the southwest, more eastwest than northsouth, is a region where its relatively smooth. Theres less craters. So perhaps its been geologically active or recently resurfacing that area. So thats very exciting to see as well. Two features that i want to go back up a little bit higher on the near the top at about the 2 00 position. You see a canyon. You can see a long linear feature. And you can actually at the very top see kind of a notch, where youre looking through to the space on the other side. And that canyon is really quite deep. Its about 4 to 6 miles deep. I find that fascinating. So its a small world with deep canyons, troughs, cliffs, dark regions that are still slightly mysterious to us. Theres another canyon on the other side, at maybe the 10 00 or 11 00 position, and that one is about three miles deep. There is so much interesting science in this one image alone. And we have higher resolution image that well get. One covers a whole all of charon, but will get some of the dark area and some of the middle area. Its going to be about a factor of 5 better in resolution. So as weve been saying, it did not disappoint. I can add charon did not disappoint either. Thank you. [ applause ] yesterday when we showed that Beautiful Image of pluto, we noted that we would have imagery with ten times the resolution on the ground by today. In fact, john spencer is going to tell us about the first just the first frame of that mosaic thats already down on the ground. Which is already giving us a big surprise. John . Thank you, allen. So, yeah, weve got a whole bunch of highresolution observations now onboard the spacecraft. This is just one small part of one of those observations. And if i can have the first slide. Dont get excited yet. [ laughter ] this is what we saw yesterday. And this is spectacular image. But we now are focusing in on the smal