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Giving it a front row seat to democracy. Look at scams on the Digital Payment platform consumer advocates testify on how congress could address the issue by Holding Banks accountable and incentivizing them to prevent such scams. Witnesses include a College Student and a retiree who share their experiences of getting scammed by the service. This is about two hours. [inaudible] thank you to make cochairman of the subcommittee the permanent subcommittee on investigations we Work Together on a bipartisan basis. Very pleased to welcome you to this hearing. On investigation entitled stirring on frau...

Good morning and welcome to the National Press club the place where news happens. I am the president of the National Press club and the managing editor here this morning wee have a special headliner event featuring diane foley the mother of journalist james foley who was murdered y isis in 2014. The foundation is announcing its new Journalist Safety Task force we will have a panel of experts discussing how to address these important issues. As we all know, unfortunately, this is a dire need now as journalists remain in harms way now all around the world. Actively working with the wall street j...

[inaudible conversations] [inaudible conversations] come to order. Without objection the chair is authorized to declare a re cess for the committee at anytime. Entitled bureaucratic overreach for Consumer Protection. Examining the cfpbs latest action to restrict composition in the payments. Without objection all members have five legislative days to submit extraneous materials for inclusion in the record. I want to recognize myself for five minutes to give an opening statement. Todays hearing, bureaucratic overreach or Consumer Protection, examining the cfpbs latest action to restrict competit...

Role to protect the time of the gentleman has expired. Thank you. Yield back. Feel free to respond to a writing on the question. The committee, we have votes on the floor, were going to take a recess for not less than five minutes and well come back and finish are questioning. We think our panel for excellent testimony today, so we are in recess for five minutes. [inaudible conversations] [inaudible conversations] comme. The gym before wisconsin is recognized for five minutes. I think the chair. Let me start with you if i can, mr. Johnson. The cfpb can see that it quote lacks sufficient inform...

The gym before wisconsin is recognized for five minutes. I think the chair. Let me start with you if i can, mr. Johnson. The cfpb can see that it quote lacks sufficient information of substantial number of known Market Participants necessary to estimate their larger participant status, end quote. In other words, they dont know the data can then have the data to and how Many Companies will be swept under the role. It of how much the rule really consult with the full market impacts could be. Cfpb uscirf under cfpb. With this the unusual in your professional opinion . I think would be unusual and...