there's a lot of promise in fintec. they could lower cost. it may be that the banking system in the fintec companies will converge in some ways so that there's better compliance but also we get the benefit of the innovation. we will see but we're trying to stamp out other because if we fall behind it this could affect markets over time and we could end up thinking we are doing with a market that is difficult to one that -- >> i think it would be somewhat of a distinction some of these tools, and even level some of that income volatility. i guess i would point out i hope catalyst is working with regulators about the rest of the world this is a worldwide phenomenon. spirit i think our team has been leading regulators around the world. a group in britain is modeled after -- >> of want to stay close to my timeline i want to get in my last question. somebody raised a year or so ago here in good response, i would like to raise it again. a different level of credit protections between debit cards and credit cards. debit cards with younger persons. i

but an area as we discussed before is fintec, and there remains opportunities in this new area as we think more of linking is going to be put at a supercommittee power you have on your front, i have looked at a member -- number of phones that are looking at tools, looking around differential ways of paying folks because of managing their finance on a regular basis fall off that cliff and end up having to resort of a payday lender or others that will put them in that debt spiral. the challenge is when you got these new technology tools, how do you balance the innovation, , get this same time, right, and what standard are we going to hold them to? they are not banking institutions, but there will be fintec.sruption from t good, but also possibilities for abuse. mr. cordray: that is true. the nature of innovation is it is neutral, but encouraging and helpful, and some innovations have been had for consumers. the exotic mortgages developed in the lead up to the crisis were innovative. they were terrible for consumers. and i'mok at fintec, interested in these issues, and we have a team at