i'm pleased rep as a community bankers and icba's nearly 5000 hours of the support hearing today. community bankers are deeply rooted in the communities they serve. because we cannot compete with megabanks on margins or economies of scale we focus instead on the individualized needs of our customers. we practice relationship banking, not one off transactional banking. our customers our friends and neighbors, and any given loans or other service is part of a long-term relationship. our reputations in the committees are paramount and our a condition of our success. community bankers have an overriding and sent to treat each customer well and earn their trust. the dodd-frank act exams committee banks with less than 10 million in assets from primary examination by the cfpb. because will be subject to cfpb rules and to examination on the sampling basis we have a keen interest in improving structure and procedures of the bureau and the quality of the rules that the issue. we support chairman bachus is recently introduced bill h.r. 1121 which would restructure the cfpb so that it is gove

consistent with our support for commission structure, icba supports efforts to strengthen regulatory review of the cfpb rules which is extremely limited under the dodd-frank act. icba supports congressman duffy's bill which would change the voting requirement for a from a 2/3 vote to a simple majority. excluding the cfpb director. the proposal would also change the standard to allow for a veto overrule that is inconsistent with the safe and sound operations of the united states financial institutions. the current rule puts at risk the soundness or stability of the financial system as a whole. this is nearly impossible to meet and would let rules extraordinary harmful to banks and consumers. while this change would improve cpf -- cfpb rule making this t would further the standard that could adversely impact the industry in a disproportionate way. we believe the standard would give regulators a more meaningful rule. the cfpb's far-reaching impact over the financial sector, consumers, and economy should be matched by the highest standard of accountability. ultimately accountability for

duffy's bill to strengthen the review of cfpb rules and you mentioned that the icba proposed language to take his bill a step further by allowing the fsoc to veto a bill that would adversely impact a subset of the industry in a disproportionate way. i just ask if you would want to elaborate on your concerns there? mr. wilcox is not on this panel so i will ask -- i will ask that question of -- of miss anderson. >> i cannot speak on behalf of the independent community bankers, so i've not quite sure how to answer your question. >> well, in that case, my time is almost expired and i will yield back. >> thank you. i would like to recognize miss mccarthy for five minutes for questioning. >> thank you. thank you very much for having this hering. i find it very interesting, you know, i keep seeing every week the numbers and foreclosures, i keep seeing the numbers of people losing their homes. many of them becoming homeless. i know we had all of these hearings going back when we were working to see what we could do to protect the consumers in the future and here is something we have in place