mr. hillary sheldon as our final witness on this panel. he is director of the naacp washington bureau and senior vp of advocacy and policy. welcome. >> good morning. chairwoman capito and many of my friends on the committee is a pleasure and honor to be here to share in your discussion about improving the strength of the financial protection bureau. we feel strongly that this nascent agency needs as much support as possible to reach its greatest potential to protect the american public in ways it has never been protected before. the naacp feels a robust -- is crucial. for too long too many consumers and ethnic minority mayors have been underserve and targeted by unfair and un scrupulous predatory financial services. the result has been dramatically diminish the opportunities to build wealth or continue to own our home or even to buy a car. four years ago i testified before the senate banking committee about predatory lending in the refinancing market and racial disparities that exist at that time. predatory lending is unequivocally a major

mr. sheldon, why don't you start? >> thank you so much. again, nime full agreement to delay the implementation of the long-needed protections of the american consumer is something we have to remember throughout this process. could the cfpb at least have an opportunity before they implement it to become operational? the naacp sent a letter recently to the president asking for a nominee to serve as director for the cfpb. we think that's extremely important. but slowing down this process again brings the terms of insanity. the history revision we continue to hear why it was so important to nut program in place in the beginning is something we must go back and look at. we testified before, and it stands today, we have people being offered products they could not sustain. the issue for us is two-fold. one is the sustainability of access to credit and secondly, protecting consumers from the predatory nature of some of these financial service institutions. we need to move quickly and decisively to make sure both of those particular divisions are

mr. chairman. >> thank you, governor. governor sheldon. >> thank you so much, chairman issa, ranking member for this invitation today in on members of the oversight and reform committee in particular thanks to my friend and congressmen, peter welch who does an extraordinary job for a start in washington. thank you for the warm welcome. it's great to be here also with governor walker. as governor walker mentioned, we met at governor's school out in colorado and i don't want to give you any ideas of congress people running for governor, but if you do get to the school made a wonderful dinner together and governor walker and myself and his wonderful wife share common challenges we are among the biggest cause of governors in america and we share a very challenging job. in fact, i say to governor walker earlier if they told us to be governor's school, the message we were taking over, we might have rethought it, but it was too late. but we are dealing with some extremely tough economic times as you know. i hope to make governors walker trip to

mr. chairman. >> thank you, governor. governor sheldon. >> thank you so much, chairman issa, ranking member for this invitation today in on members of the oversight and reform committee in particular thanks to my friend and congressmen, peter welch who does an extraordinary job for a start in washington. thank you for the warm welcome. it's great to be here also with governor walker. as governor walker mentioned, we met at governor's school out in colorado and i don't want to give you any ideas of congress people running for governor, but if you do get to the school made a wonderful dinner together and governor walker and myself and his wonderful wife share common challenges we are among the biggest cause of governors in america and we share a very challenging job. in fact, i say to governor walker earlier if they told us to be governor's school, the message we were taking over, we might have rethought it, but it was too late. but we are dealing with some extremely tough economic times as you know. i hope to make governors walker trip to