mr. luetkemeyer: mr.speaker, i ask unanimous consent that all members have five legislative days to revise and extend and extend their remarks and add extraneous materials to this bill. the speaker pro tempore: without objection. mr. luetkemeyer: thank you, mr. speaker. i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. luetkemeyer: thank you, mr. speaker. today we are considering one of the most commonsense bills seen in some time. this bill provides a real solution to a real problem that's impacting banks, credit unions and merchants nationwide. regulation e currently mandates that a.t.m. fee disclosures appear both if physical plaquered or sticker form on the machine as well as through an onscreen electronic notification. unfortunately some individuals have seen the potential to make a quick buck off of frisk louis claims and have begun to remove stickers from a.t.m.'s across the country. thereby placing financial institutions and merchants out of compl

mr. luetkemeyer because he is the next questioner and then if we want to come back we have to vote. let's go ahead with mr. luetkemeyer. >> thank you for the mobile payment system that was quite instructional and after the meeting i told my staff i'm going to get half -- have to get rid of my rotary phone. thank you for being here this morning. just a couple quick follow-up questions with my colleague mr. canseco asked a couple questions regarding international standards, and ms. martin, you made the comment you're going to wait until the market is mature before you get the regulatory promulgation hearing account after the horse is out the door if you're going to take that approach. i would think the you would be wanting to work with those entities that are producing the new innovation and find ways to curtail abuses of those right off the bat. i was surprised that comment. >> my remark is detected specifically towards international standards. >> that's what i'm concerned about. >> said, generally when we work on international standards and other contexts it's when we have some rule

mr. luetkemeyer for five minutes. >> thank you madam chair. mr. dante it's always interesting to have you before the committee. the discussions this afternoon. can you tell me what spurs the rule making of this efp the different areas they get into? >> let me answer that in the long-term policy agenda and in the near term not quite in that order. the near-term policy agenda as applied to rulemaking is set up by the statute. we have a not inconsiderable rulemaking agenda within the mortgage business that is mandatory and carries with a timetable that is -- senate what they call a timeout right there. what is the reason to read to you have any idea what the reason is for the rule making a request that has been made of you? >> yes, the statute is relatively clear in most cases. >> why is the statute the way it is? why the statute wants you to make a rule. >> welcome i know that the deliberations in the the date with respect is the statute where land he and spirited and of course but discretion has chosen a number of different rulemaking mandates and