mr. pincus's characterization.n particular, i would note that it is not clear whether the president has the ability to remove the comptroller at well or if it is only for cause -- at will, or if it is only for cause. that is the opinion of the general counsel in one part of the treasury department. that is not united states code. if you look at the chart, it shows that there is extensive and unprecedented oversight at the cfpb. accountability does different -- differ from other banking regulators. their oversight structures have not worked. to review the key cfpb oversight provisions, they are subject to rule-making and adjudication provisions. it is one of only three federal regulators that are subject to federal review. they have numerous statutory limitations. they must make detailed findings if they want to exercise the power to declare certain acts unfair, deceptive, or abusive. the cfpb is the only federal bank regulator subject to a budgetary cap. some think the cap is too high. i have never heard similar co

mr. pincus, you may proceed. >> thank you, mr. chairman and members of the committee. it is an honor to testify in behalf of the u.s. chamber of commerce. the chamber strongly supports sound consumer protection regulation that deters and punishes financial fraud and predation and requires that consumers receive clear, concise, and accurate disclosures about financial products. this this is as well as consumers benefit from market places that are free of fraud and other deceptive and exploitative practices. at the same time, consumer protection regulation must further these goals while avoiding duplicative and unjustified regulatory burdens. they harm all americans by diverting resources essential to fueling the economic growth and by preventing small businesses from obtaining the credit they need to expand and create the new jobs that howrah economy so desperately needs. the ability of our regulatory agencies to carry out its mission successfully is strongly influenced by its regulatory structure. the bureau's unique and unprecedented structured deviate's radically fro