maloney. >> first of all, thank you mr. secretary for your service. i want to clarify one of the points talking about the bank and it never cost taxpayers absolutely one cent. >> the imf. but that's true of the xm bank. >> have they made a profit and if they do does it go into the treasury? does it go into the general fund? >> when the imf draws on the commitments we make it pays us interest on the drawings. so yes, in that sense it returns our commitments with interest. >> so this is, these are two programs that are creating stability in the economy, and obviously in the xm bank creating exports and jobs and helping us build that 2.5% to a higher percentage gdp so it sounds like a good investment for the american taxpayer. i wanted to ask you about all things libya. last friday i was in libya with a minority leader pelosi and we were meeting with the transitional government, and there was a great sense of yunlty and great sense of purpose, a great expectation for their elections taking place in june. and oil production is up which is going to help th

mrs. maloney: yes. the speaker pro tempore: all those in favor of taking this vote by the yeas and nays will rise and remain standing until counted. a sufficient number having arisen, the yeas and nays are ordered. pursuant to clause 8 of rule 20, further proceedings on this question will be postponed. for what purpose does the gentleman from florida rise? mr. mica: madam speaker, i ask unanimous consent to take from the speaker's table h.r. 4348 with the senate amendment thereto, disagree to the senate amendment and agree to the conference requested by the senate. the speaker pro tempore: the clerk will report the title of the bill. the clerk: h.r. 4348, an act to provide an extension of federal-aid highway, highway safety, motor carrier safety, transit and other programs funded out of the highway trust fund pending enactment of a multiyear law re-authorizing such programs and for other purposes. the speaker pro tempore: without objection, the motion is adopted. for what purpose does the gentleman from

mrs. maloney: because it is a plan that is most noteworthy for the harsh austerity it demains -- demands of the many and the lavish benefit it extends to the few. nobel laureate has called this budget proposal the most fraudulent budget in u.s. history. calling its priorities inconceivably cruel. our recent economic history has shown that while republican budget might pull well, they do not perform well. the bush budget produced stagnant income growth for the middle class, a jobless recovery and a huge deficit. the ryan republican plan is the bush budget plan on steroids. if we look at what actually worked in the past, the single best model for growing jobs, sustaining economic growth and reducing the deficit can be found in the eight years of the clinton administration. which created 22 million jobs, eraced the deficit and left this country with a huge surplus. a more balanced approach to deaf -- approach, the deficit reduction will work for every. let's pass a budget based on fact, not fiction. pass the democratic budget. the speaker pro tempore: for what purpose does the gentleman from f

mr. cordray, i thank you for your appearance and now recognize the ranking member of the subcommittee, ms. maloney. >> okay. is mr. frank coming? >> okay. >> pardon me? should we wait for him? >> we're going to -- >> well, first of all, i would like to -- should i wait for mr. frank or -- [inaudible conversations] >> i'll allow mr. frank to come in and make an opening statement. would you like mr. hensarling -- >> i will just go ahead in the interest of time. first of all, i'd like to welcome director cordray and really thank you for your impressive accomplishments so far. i know that when we were doing the markup on dodd-frank, i offered a, an amendment that called for an annual report and oversight by this committee of the cfpb. that was later amended to make it a semiannual report to congress. but if i had known that you would be before this body or someone senior as yourself would be before this body 15 times so far this year alone, i would not have offered that amendment. because you have been very accountable to us and to this congress. and i'd like to say it was great to have you in my dist

mr. cordray, i thank you for your appearance, and now recognize the ranking member of the subcommittee, ms. maloney. >> is mr. frank coming? pardon me? should we wait for him? first of all, i would like to -- should i wait for mr. frank? >> i will allow mr. frank to come in and make an opening statement. >> i will go ahead, in the interest of time. first of all, i want to welcome director cordray, and really thank you for your impressive accomplishments so far. i know that when we were doing the markup on dodd-frank, i offered an amendment that called for an annual report and oversight by this committee of the cfpb. that was later amended to make it a semi-annual report to congress, but if i had known that you would be before this body or some one senior, as yourself, would be before this body 15 times this year alone, i would not have offered the amendment, because you have been very accountable to us and to this congress. i would like to say it was great to have you in my district in new york, where you discussed and launched an inquiry into overdraft practices. i know you have faced similar meet

mr. cordray. my time is up. >> ms. maloney for five minutes. >> thank you. director cordray, yesterday i read in one of the papers that you have a new feature on the cfpb website called ask us anything. i wanted to call it to the attention of my colleagues and others, because i believe that financial literacy is something that i care deeply about, and i firmly believe that when people have the best information, they can make the best decisions for their financial lives. can you report on the usage of this function, and how will these questions and form your work going forward to? >> thank you, congresswoman. it's something that we think will be an important foundation that we build on going forward. so, as we prepared the bureau to receive and to handle and to resolve consumer complaints in the credit card area, and in the mortgage every and now we're into other areas as well, we inevitably developed training materials for our folks would be receiving those complaints to be able to address different questions, to be knowledgeable about the products they will