we are doing quite well. >> and mr. carey, just to qualify, you don't charge vcs, etc., with respect to checks, you do charge those, and unlike mr. polis organization, you don't do it to an overdraft. you do it automatically? >> know, as i said in my testimony, we have programs similar to what pin fed has, which an account opening and throughout the opening there's an opportunity to link a line of credit. and customers can move those funds back and forth and make sure that they have the appropriate coverage here so we do have all those things. and at those point-of-sale money can literally move over and cover those particular transactions. soleus is to have the same capability. what i was focusing on was if someone just simply didn't opt in to the programs, in the current environment we simply wouldn't authorize the transaction. if there were no funds there. >> well, yes, mr. livieri, thank you. >> it has been my policy, then quite a while, but i remember having a credit card, or debit card, whatever. you put it in a machine

>> to the contrary, we are doing quite well. >> mr. carey justin my my to clarify your policy about debit cards is you don't charge fees fees. with respect to jacks, you do charge those and unlike mr. pollack's organization you don't do it through an overdraft. you do it automatically? the we have programs similar to what pen fed has which an account opening in throughout the relationship there's an opportunity to link the savings account or lincoln line of credit and the customers can move those funds back and forth and make sure they have the appropriate covered so we do have all of those things, so at those points of sale one can literally move over and cover those particular transactions and people are due not-- not tonight. what i am essentially focusing on was it someone simply did not often to those programs, in the current environment we simply would not authorize the transaction that there were not funds there. >> yes, sir. mr. olivier. thank you. >> allah the in his than policy and it has been quite a while but i remember having a

we thank you very much mr. carey for joining us. michael calhoun is the resident what he is held that position since 2006. the center is a research and policy institute for focusing on consumer lending and protection. and again, we are very, very pleased that all of you with us today. and we thank you. by the way, any of your opening fall opening statements, comments and any supporting information you would like the committee to have will be included in the record so we will begin with you, mr. libby or. you have to pull the microphone close to. there is a button down there that have active debate the microphone. >> i got it. >> you're all set. you are on. >> good afternoon, chairman senator dodd and members of the committee. my name is mario livieri. i am a senior citizen and i live in branford, connecticut. i am honored to be invited here today to share my story with you. i hope that it will help you to do the right for consumers like me go been unfairly and misled by the bank about overdraft fees. until a few months ago, i was a