SFGTV: San Francisco Government Television
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Nov 19, 2013
11/13
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. >> occ director's report discussion, review activities, presentation of occ's 2013 third quarter statistical report and reports from january 1, 2013 to october 31, 2013. >> i apologize for interrupting, but i'm going to excuse myself. tonight is the 19th anniversary of the murder of jim gelf and i wouldn't want to miss it. >> mediation complaints, october 2013 and adjudication of sustained complaints and october 2013. >> good evening director hicks. >> good evening, members of the commission, deputy chief, and members of the audience. this evening i have three reports. i've mailed the briefs because there are three of them. for occ recent activities last thursday attended a networking event where i described my office at the office of citizen complaint to both hall alumnae and current law students. also that same day sam, our policy analyst attorney met with children of incarcerated parents and she met last week with language access grantees with whom the immigrant affairs had arranged for her to meet. that concludes my report of recent activities. moving on, the october comprehensive statis
. >> occ director's report discussion, review activities, presentation of occ's 2013 third quarter statistical report and reports from january 1, 2013 to october 31, 2013. >> i apologize for interrupting, but i'm going to excuse myself. tonight is the 19th anniversary of the murder of jim gelf and i wouldn't want to miss it. >> mediation complaints, october 2013 and adjudication of sustained complaints and october 2013. >> good evening director hicks. >> good...
SFGTV: San Francisco Government Television
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Nov 23, 2013
11/13
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occ so i'm still in limbo six months later. and as far as miss brown here, something for the commission to think about or victim services in the sftv maybe possibly when this happens, offering a connect to the small business administration to get her under an advocacy business license, a non profit business license, if there's something that the city can do to facilitate that so that victims of violent homicide or any sort of issue, if they want to be an advocate for the public and other victims of like circumstance, maybe putting a program together for that might be something to think about, not that you don't have enough to think about already. thank you. >> thank you very much. any further public comment. hearing none, public comment is now closed. chief's report. >> chief's report discussion, review of activities. >> i bring up last wednesday morning, the city suffered its 39th homicide, which occurred during a -- what was a shooting in and out of cars at about 4:50 in the morning on november 6. i bring this up because ther
occ so i'm still in limbo six months later. and as far as miss brown here, something for the commission to think about or victim services in the sftv maybe possibly when this happens, offering a connect to the small business administration to get her under an advocacy business license, a non profit business license, if there's something that the city can do to facilitate that so that victims of violent homicide or any sort of issue, if they want to be an advocate for the public and other...
SFGTV: San Francisco Government Television
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Nov 15, 2013
11/13
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the occ mediated cases, which is an 11 mediation rate. in august senior investigator erik was appointed by me to the newly created investigator position. he serves as chief of investigations as well. in the area of training the occ continued implementing its /stra tee /skwr*eupblg /skwreubg tee /stra for days of training at naco. at this conference attorneys on policy recommendations for officer involved shootings and other incidents. copresented on a panel he presented on investigation. in september clerical staff members and investigators attended a department of health services training on non violent crisis intervention. in the area of technology occ's information systems, business analyst continues to work on significant technology projects. the first one, which i have discussed at several police commission meetings will enhance customer service for providing online customer complaint filing. another that leverages data in the occ database to deliver reminder prompts to investigators as a case nears a deadline. for the on line compla
the occ mediated cases, which is an 11 mediation rate. in august senior investigator erik was appointed by me to the newly created investigator position. he serves as chief of investigations as well. in the area of training the occ continued implementing its /stra tee /skwr*eupblg /skwreubg tee /stra for days of training at naco. at this conference attorneys on policy recommendations for officer involved shootings and other incidents. copresented on a panel he presented on investigation. in...
SFGTV: San Francisco Government Television
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Nov 16, 2013
11/13
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is -- i don't recall whether the occ, if that's happening. does that happen in tandem or whether that's separate, the capital, you know, items for the occ. do you do your requests at the same time of year and same process? for some reason it didn't come up in this whole scheme. >> the o cc doesn't have a capital budget so that's why it didn't come up. >> so it's just a couple of cars essentially. i don't know, maybe that doesn't -- automobiles don't fall under capital. >> i don't know, commissioner kingsly, but... >> you don't have a separate budget, everything's in your operating budget? >> everything is in the operating budget. >> thank you for helping me. >> i suspected it as we were moving in that direction, but that makes sense. thank you director. >> thank you, commissioner terman. >> i would like to say we cover as a commission a great many items. i am, by and large, proud of the work we do here, but we don't do it alone. we do it with great support and help of the commission staff and sometimes we need to take time and recognize the c
is -- i don't recall whether the occ, if that's happening. does that happen in tandem or whether that's separate, the capital, you know, items for the occ. do you do your requests at the same time of year and same process? for some reason it didn't come up in this whole scheme. >> the o cc doesn't have a capital budget so that's why it didn't come up. >> so it's just a couple of cars essentially. i don't know, maybe that doesn't -- automobiles don't fall under capital. >> i...
SFGTV: San Francisco Government Television
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Nov 26, 2013
11/13
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president mazzucco we have a quorum and also, with us this evening is director jared hicks from the occ and chief of police. >> and thank you very much inspector monroe and welcome to the wednesday, november 6th, 2013, san francisco police commission meeting and ladies and gentlemen we have a full agenda and most will be in the closed session with the disciplinary matters and review of other issue and so we will spend a lot of time in closed session, but before that we will be in the open session and so please call line item number one. >> consent calendar, receive and file action. sfpd/occ third quarter, 2013 status report on general orders and policy proposals. >> commissioners have you this on the consent calendar in your packet under tab number one and are there any questions or concerns or in put? >> commissioner chan? >> i just had and just noticed when going through the report, that it looks like there are 1, 2, 3, 4, or so pending dgos that are with the command staff and just hope thating one of those gets to us soon. >> and i agree. >> and that is it. >> anybody else commission
president mazzucco we have a quorum and also, with us this evening is director jared hicks from the occ and chief of police. >> and thank you very much inspector monroe and welcome to the wednesday, november 6th, 2013, san francisco police commission meeting and ladies and gentlemen we have a full agenda and most will be in the closed session with the disciplinary matters and review of other issue and so we will spend a lot of time in closed session, but before that we will be in the open...
SFGTV: San Francisco Government Television
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Nov 14, 2013
11/13
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the commission oversees or whatnot the occ to their determination of their needs. i've seen budgets for the occ is 4 point something million a year and they are required to have one investigator for every 150 officers employed, so if they're shy three, one's on medical leave or whatever, that's -- i dunno if that counts technically or not, but if they're short three that's in violation of the city charter. i don't know if special patrol is included in that or the park ranger, sheriff's office or the officers for the bid's or whatever they are, all those acronym, i don't know if theocc handles those officer complaints or not, but that is what charter dictates so as far as capital budgets for the occ, overhead, i'm sure rent and utilities and all that stuff is probably included somewhere at capital budget unless it's rented out. >> operating budget. >> i'm sorry. >> in the occ's operating budget, but i'm not sure about the commission. i don't know where it's -- >> we don't have a budget. >> oh. >> we work for free. >> you do have staff, so you do have a budget. i did
the commission oversees or whatnot the occ to their determination of their needs. i've seen budgets for the occ is 4 point something million a year and they are required to have one investigator for every 150 officers employed, so if they're shy three, one's on medical leave or whatever, that's -- i dunno if that counts technically or not, but if they're short three that's in violation of the city charter. i don't know if special patrol is included in that or the park ranger, sheriff's office...
SFGTV: San Francisco Government Television
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Nov 9, 2013
11/13
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thank you, deputy chief oko and it has been vetted as well, with the occ. and we have a few other items that we want to amend, based on the last, many comments that i want to thank director hicks for providing and it has been a lot of work by two very competent very dedicated assistant deputy city attorneys, so thank you very much for your assistance on that as well. so, with that, i think that we have discussed the resolution, in detail. and it has received the approval of those who were required to do most of the reporting. we have tried to trim out things that we really could trim out and i think that there are a few items that we just need to cover and then we can take any questions that you may have on it. did you want to cover up the one that... >> yeah, thank you, commissioner turman. on page 6 of the resolution, there is an action item 15, and in speaking with director hiks, regarding this item, subsequent to this hand out being printed and contributed. we would like to include or director hiks proposed this modification. instead of reading as it pr
thank you, deputy chief oko and it has been vetted as well, with the occ. and we have a few other items that we want to amend, based on the last, many comments that i want to thank director hicks for providing and it has been a lot of work by two very competent very dedicated assistant deputy city attorneys, so thank you very much for your assistance on that as well. so, with that, i think that we have discussed the resolution, in detail. and it has received the approval of those who were...
SFGTV: San Francisco Government Television
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Nov 16, 2013
11/13
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neither police or occ personnel or commissioners are required to respond to questions presented by the public, but may provide a brief response. individual commissioners and police and occ personnel should refrain from any debates with speakers during public comment. please limit comments to three minutes. >> before you proceed, i'd like to say i listened to you on doctor marshall's show and learned so much about you from these three minute sound bites we get each week. it was very moving. i think tonight i'll give you three minutes for yourself and three minutes for your son. i want you to explain some things you're feeling that you told doctor marshall. it meant a lot to us. please, you get six minutes. >> okay. >> hello, yeah. hank you. my name is paula brawn and i'm here concerning my son who was murdered by an automatic gun. as i come here every time i still have no judges. i always bring the names, which i left in the car tonight of the perpetrators that were involved in my son's case. i still have no closure as a mother. i'm still out there paving the ground, trying to get justi
neither police or occ personnel or commissioners are required to respond to questions presented by the public, but may provide a brief response. individual commissioners and police and occ personnel should refrain from any debates with speakers during public comment. please limit comments to three minutes. >> before you proceed, i'd like to say i listened to you on doctor marshall's show and learned so much about you from these three minute sound bites we get each week. it was very...
SFGTV: San Francisco Government Television
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Nov 9, 2013
11/13
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attached and it is not organized by organization, you know, what is sfpd need to report on, what is the occ need to report on what does the commission need to provide and in putting it on the calendar is great for the hearings but for the public it is, you know, when i go to the occ website, i look for say policy changes, and i see that there is a gap of i think, 2008 was the last time that the policies were posted. and then in the chief's report, there is some, items that are pending that are not updated in the following report or you kind of have to reconcile and it is hard to do the math so to speak. so just before adopting another point, adopting a resolution and things that are required, and these are all required and for making the reports in the back up the charter and the board of supervisors requests, and things that the reports and those reports and to kind of match that to the reports in the data so that you have a better idea of what they are all but to the public, it is, you know, it is just something to consider before you can move to resolve this next week, once everything ha
attached and it is not organized by organization, you know, what is sfpd need to report on, what is the occ need to report on what does the commission need to provide and in putting it on the calendar is great for the hearings but for the public it is, you know, when i go to the occ website, i look for say policy changes, and i see that there is a gap of i think, 2008 was the last time that the policies were posted. and then in the chief's report, there is some, items that are pending that are...
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Nov 20, 2013
11/13
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and this video has been given to occ that will determine whether or not police went too far. >> it was not a pretty incident. >> he is talking about this altercation last night in the mission district. captured on a cell phone. police say the 20-year-old shown here on this flyer was told by under cover police officers to stop. after riding a bicycle on the sidewalk. his cousin told us williams never heard them. >> he was on his bike. he had head phones on and hoody on. he didn't hear them. >> the chief told abc7 news as williams was being cited he walked towards his apartment. police grabbed his shoulder, police say williams bit one officer. >> they're thinking about this person have a gun? is the bicycle stolen? is the person up to something else? >> reporter: under cover police are part of a union that confis stated ten guns in 30 days. but friday night, no guns were found. as the arrest was happening a crowd gathered and tried to intervene. rodriguez says her brother was caught in the altercation. >> they overabuse their power, of course, the family is going to help. that is family.
and this video has been given to occ that will determine whether or not police went too far. >> it was not a pretty incident. >> he is talking about this altercation last night in the mission district. captured on a cell phone. police say the 20-year-old shown here on this flyer was told by under cover police officers to stop. after riding a bicycle on the sidewalk. his cousin told us williams never heard them. >> he was on his bike. he had head phones on and hoody on. he...
SFGTV2: San Francisco Government Television
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Nov 22, 2013
11/13
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i'll make that a change to the resolution that instead of having the building building operator notify occ, it should be the housing successor agency and we'll have an mou with moh and that will cover the transfer for making this happen. >> really quick because it's going on 3:00. i saw that -- i wrote this question down. so on the parking, what is the decision on the one car share spot? >> the design can jump in. including a car in new development is a new planning code requirement so we make sure that the design team follows that and they have basically followed the requirement by including one. there will probably be more car share throughout the development, maybe partially on the street or in buildings but for now specifically for block 49 we have this one. >> okay. that was my next question. this is about the car share and the bike parking, i think the bike parking is pretty significant. 60 spots for 60 units but just for people who don't live in the building on street, this is a procedural question, i think dpw handles the parking on the street. >> i believe so, but i'm not certain.
i'll make that a change to the resolution that instead of having the building building operator notify occ, it should be the housing successor agency and we'll have an mou with moh and that will cover the transfer for making this happen. >> really quick because it's going on 3:00. i saw that -- i wrote this question down. so on the parking, what is the decision on the one car share spot? >> the design can jump in. including a car in new development is a new planning code requirement...
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Nov 19, 2013
11/13
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regulatory bodies here and the answers we have again, we spoke with sei, the secret service, dea, ice, fbic, occ, irs, the federal reserve, ncua -- >> and they all have sophisticated mean sns. >> yeah. >> we did consult from the consumer perspective. we've consulted with all of them as we can. this is developing an innovative arena and we were lucky to be able to cover it under pre-existing regulations. as we talked to our counter person, as well, with the last portion of your question, there is great interest by fellow regulators as they're trying to get their heads around what is this and what does it mean, our german counter parts, like us, and other coup tris, thus far, have been asking us what we see and financial aspect pass ports which is aml, standing setting bodies in an international community plans to take us this topic. >> in answer to your first question about the level of regulation, that's exactly what the states are trying to do with states and local regulators to make sure we have an appropriate level of oversight and supervisan
regulatory bodies here and the answers we have again, we spoke with sei, the secret service, dea, ice, fbic, occ, irs, the federal reserve, ncua -- >> and they all have sophisticated mean sns. >> yeah. >> we did consult from the consumer perspective. we've consulted with all of them as we can. this is developing an innovative arena and we were lucky to be able to cover it under pre-existing regulations. as we talked to our counter person, as well, with the last portion of your...
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Nov 4, 2013
11/13
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gathered in cairo to the show was being censored poking fun at defence minister general abdel fatah occ. we know a lot of fun and we need today to reject what happens when you get centuries and the revolution center it's a sin you sent in orissa state of freedom in the media is amongst the most important dawns and the revolution. we reject any suppression anyone. egyptian media from injury. the muslim brotherhood remain silent when tastings and a whole state is unethical to what happened to boston the week the program returned their last two weeks after having been on a four month hiatus that started with egypt's military ousted former islamist president mohammad more sea after massive protests called for his removal during moore's his rule use it acted as a leading voice against his presence. during his return from your show last week the center's carried out his tradition of joking about his country's leaders by mocking recent nationalist military fever the spirit to teach its many supporters of the military immediately filed legal complaints against show the network cbc is heavily in
gathered in cairo to the show was being censored poking fun at defence minister general abdel fatah occ. we know a lot of fun and we need today to reject what happens when you get centuries and the revolution center it's a sin you sent in orissa state of freedom in the media is amongst the most important dawns and the revolution. we reject any suppression anyone. egyptian media from injury. the muslim brotherhood remain silent when tastings and a whole state is unethical to what happened to...
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Nov 18, 2013
11/13
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and every day was it really ends up dying the occ much like being on a scale of the must dos. you know. japan and the european union have agreed to step up negotiations on an economic partnership. they say they're working hard on a list of terrorists to eliminate japanese trade and industry minister. push to get some more thinking than eu trade commissioner carl that coughed in tokyo on monday the two sides are holding a summit in the city on tuesday was eighty six japan will keep negotiating to include high level of court for talks began in april. the pope has said the eu hopes for progress in the next several months but the union says japan's unique automobile safety standards in their smooth access to its market the task in the country to review the eu has said of me and the talks in a curious japan's response is insufficient. competition among some fifty thousand convenience stores in japan is intensifying. forty years ago the first convenience store in the country opened for business. the biggest and oldest of the seven eleven japan marked the milestone with a ceremony on
and every day was it really ends up dying the occ much like being on a scale of the must dos. you know. japan and the european union have agreed to step up negotiations on an economic partnership. they say they're working hard on a list of terrorists to eliminate japanese trade and industry minister. push to get some more thinking than eu trade commissioner carl that coughed in tokyo on monday the two sides are holding a summit in the city on tuesday was eighty six japan will keep negotiating...
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Nov 15, 2013
11/13
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earlier the fed and occ reached a settlement with servers that engaged in a long list of illegal foreclosure activities. the settlement was for over $9 billion, directly affected more than 4 million families, but the fed's board of governors never voted on whether to accept the settlement. instead this decision was just left to the staff. now, the fed has smart, hard-working staff, but the board of governor would never allocate critical monetary policy to them. yet even now have the biggest financial crisis in generations, the board seems all too willing to delegate critical regulatory and supervisory decisions. i think we need to make reining in the banks a top priority for the board. i know the board meets regulatory to discuss monetary policy. do you think the board should have regular meetings on supervisory and regulatory issues, as well? making it clear that both of those are important to the fed? >> well, senator, i absolutely believe our supervisory capabilities are critical and are just as important as monetary policy. we need to take them just as seriously and devote just as much t
earlier the fed and occ reached a settlement with servers that engaged in a long list of illegal foreclosure activities. the settlement was for over $9 billion, directly affected more than 4 million families, but the fed's board of governors never voted on whether to accept the settlement. instead this decision was just left to the staff. now, the fed has smart, hard-working staff, but the board of governor would never allocate critical monetary policy to them. yet even now have the biggest...
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Nov 20, 2013
11/13
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guidance on our narrow lane and issue, we spoke with fbi, the secret e, service, d.e.a., ice, fdic, occ irs, the federal reserve, ncua -- and -- ticate >> andd they all this sophisticated opinions? >> now, that i'll let them answer. but we did consult with -- including cfpb from the consumer fraud perspective. but you know, we've consulted with all of them as we can. this is a developing and innovative arena. we were lucky to be able to cover it under our pre-existingi ralss. as we talk to our counterparts abroad which was the last portion of your question there is great interest in federal s regulators abroad as they try ts get into what is this and what does this mean p. our german counterparts like usl had fairly flexible regulations in place that they could fit this within pre-existing regulations. so they've done so. and other countries thus far have been asking us to see whats we're doing and why. and finally i understand the financial action task force, ps which is the aml standard-setting body for the p international community plans to take up this topic. >> mr. cotney? >> in an
guidance on our narrow lane and issue, we spoke with fbi, the secret e, service, d.e.a., ice, fdic, occ irs, the federal reserve, ncua -- and -- ticate >> andd they all this sophisticated opinions? >> now, that i'll let them answer. but we did consult with -- including cfpb from the consumer fraud perspective. but you know, we've consulted with all of them as we can. this is a developing and innovative arena. we were lucky to be able to cover it under our pre-existingi ralss. as we...
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Nov 19, 2013
11/13
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if we didn't have to play with a bit of madness tickets without madness we went the occ impossible the match is a great opportunity to show you we can play in two thousand ten ukraine lost a world cup playoff against greece in the team is determined not to let that happen again wouldn't it. we are going to find to win this but i think that the french team will also finds different skills to write history tuesday it would be the first time in twenty years the side has failed to qualify for a major championship. tracy's defense can make street from us jimenez and estate in santa hello and welcome to the false uncut interview we're in of the time for a couple of. he would be palestinian state. our guest today is muhammad studying who is or was will ask him one of the two palestinian negotiators with it so we know there's an ongoing process you and your colleagues that there are cops presented her resignation. several days ago there are some questions over whether this was accepted by present us with abbas can you tell us exactly what your position is on its web it is who we are to islam b
if we didn't have to play with a bit of madness tickets without madness we went the occ impossible the match is a great opportunity to show you we can play in two thousand ten ukraine lost a world cup playoff against greece in the team is determined not to let that happen again wouldn't it. we are going to find to win this but i think that the french team will also finds different skills to write history tuesday it would be the first time in twenty years the side has failed to qualify for a...
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Nov 30, 2013
11/13
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KGO
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not the first company -- not the company's first brush with legal trouble n 2011 bloomberg reported occ's then ceo rand peterson had a fell felony conviction. ocz proposed selling viefring assets. >> microsoft narrowed it's short list of candidates, leaning towards currentford ceo. stocks closing mixed today. s and p and dow selling off on behalf of the shortened trading session. your bloomberg silicon valley closed higher today, three unpublished short stories by jd salinger were leaked online the works by the fiercely private author were previously only available for academic study. apparently no secrets on the web from. bloomberg studios in san francisco, i'm cory johnson. larry, carolyn, back to you. >> thank you, cory. and most of the attention usually focuses on malls and big-box stores. >> turns out mom and pop stores are offering great deals because they've got to do something to compete. laura anthony joins us live now on main street. laura? >> what better place, main street here in pleasanton the small stores here appeared to do well, without a lot of door busters. this black fr
not the first company -- not the company's first brush with legal trouble n 2011 bloomberg reported occ's then ceo rand peterson had a fell felony conviction. ocz proposed selling viefring assets. >> microsoft narrowed it's short list of candidates, leaning towards currentford ceo. stocks closing mixed today. s and p and dow selling off on behalf of the shortened trading session. your bloomberg silicon valley closed higher today, three unpublished short stories by jd salinger were leaked...
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Nov 14, 2013
11/13
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the federal reserve, occ and fdic understand as does the cfpb that smart regulations need smart data. but we live in a world where more and more data about consumers is used by businesses and governmental like information security and data privacy must be safe guarded and encouraged by the burrabout you bureau's efforts to address these issues. earlier in year, the cfpb finalized rules to strengthen authori mortgage standards.earlier in y finalized rules to strengthen mortgage standards. these rules were well received, however, i remain interested in hearing from director cordray on how these will improve lending. i look forward to hearing your expectations for compliance with these rules in january especially for small lenders. finally, the committee's exploration of housing finance reform is well under way. as we move forward, i'm interested to hear about your thought on the enter as of your mortgage rules including qm with the new system. and any unintended consequences. with that, i turn to the ranking member. >> thank you, mr. chairman. today we will hear from director cordray on
the federal reserve, occ and fdic understand as does the cfpb that smart regulations need smart data. but we live in a world where more and more data about consumers is used by businesses and governmental like information security and data privacy must be safe guarded and encouraged by the burrabout you bureau's efforts to address these issues. earlier in year, the cfpb finalized rules to strengthen authori mortgage standards.earlier in y finalized rules to strengthen mortgage standards. these...
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Nov 17, 2013
11/13
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CSPAN
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the federal reserve, occ and fdic understand as does the cfpb that smart regulations need smart data. but we live in a world where more and more data about consumers is used by businesses and governmental like information security and data privacy must be safe guarded and encouraged by the burrabout you bureau's efforts to address these issues. earlier in year, the cfpb finalized rules to strengthen authori mortgage standards.earlier in y finalized rules to strengthen mortgage standards. these rules were well received, however, i remain interested in hearing from director cordray on how these will improve lending. i look forward to hearing your expectations for compliance with these rules in january especially for small lenders. finally, the committee's exploration of housing finance reform is well under way. as we move forward, i'm interested to hear about your thought on the enter as of your mortgage rules including qm with the new system. and any unintended consequences. with that, i turn to the ranking member. >> thank you, mr. chairman. today we will hear from director cordray on
the federal reserve, occ and fdic understand as does the cfpb that smart regulations need smart data. but we live in a world where more and more data about consumers is used by businesses and governmental like information security and data privacy must be safe guarded and encouraged by the burrabout you bureau's efforts to address these issues. earlier in year, the cfpb finalized rules to strengthen authori mortgage standards.earlier in y finalized rules to strengthen mortgage standards. these...
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Nov 25, 2013
11/13
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CSPAN
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regulatory bodies here and the answers we have again, we spoke with sei, the secret service, dea, ice, fbic, occ, irs, the federal reserve, ncua -- >> and they all have sophisticated mean sns. >> yeah. >> we did consult from the consumer perspective. we've consulted with all of them as we can. this is developing an innovative arena and we were lucky to be able to cover it under pre-existing regulations. as we talked to our counter person, as well, with the last portion of your question, there is great interest by fellow regulators as they're trying to get their heads around what is this and what does it mean, our german counter parts, like us, and other coup tris, thus far, have been asking us what we see and financial aspect pass ports which is aml, standing setting bodies in an international community plans to take us this topic. >> in answer to your first question about the level of regulation, that's exactly what the states are trying to do with states and local regulators to make sure we have an appropriate level of oversight and supervision and if we have the tools to protect and prevent i
regulatory bodies here and the answers we have again, we spoke with sei, the secret service, dea, ice, fbic, occ, irs, the federal reserve, ncua -- >> and they all have sophisticated mean sns. >> yeah. >> we did consult from the consumer perspective. we've consulted with all of them as we can. this is developing an innovative arena and we were lucky to be able to cover it under pre-existing regulations. as we talked to our counter person, as well, with the last portion of your...
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Nov 13, 2013
11/13
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that respect, director cordray, there are four economists, one from the university of chicago, nyu, occ, national university of singapore that recently released an independent valuation under the credit card acts, i strongly supported, many elements i authored. looking at the data from 150 million accounts, the study found huge benefits estimating the reforms are saving turms almost $21 billion per year. 21 billion per year. i was listening to the accounts. this is one area of $21 billion a year of savings. the average consumer's borrowing cost reduced by annualized 2% of average daily balances. some of the people with the lowest fico scores found 10%. also found consumer's access to credit has not been reduced. so given the success, and i believe you've released your own -- the bureau has released its own report on the act and found similar successes. given the success of the credit card act reforms, what lessons can the bureau draw to protect consumers and improve transparency as it relates to credit cards and other financial products? >> thank you, senator. thank the entire congress
that respect, director cordray, there are four economists, one from the university of chicago, nyu, occ, national university of singapore that recently released an independent valuation under the credit card acts, i strongly supported, many elements i authored. looking at the data from 150 million accounts, the study found huge benefits estimating the reforms are saving turms almost $21 billion per year. 21 billion per year. i was listening to the accounts. this is one area of $21 billion a...