the bureau officials said they will comply with the administrative procedures act and the bureau has evaded the intent of the apa by issuing rules without asking for public comment before the rules become effective. consequencely the bureau has imopposed costly regulations to american population without providing the american population any room for comment. one would think the bureau would have gone out of its way actively seek public comments on the rules. in a speech last year the deputy director stated, the bureau will invite public input to provide a fact base to help the bureau evaluate the costs, benefits and impacts of the rules and on suggest alternatives. those were his words and he stressed that the bureau would be quote, fact based and deliberate, the recent rule making process shows that they like to give the appearance of listening to the public but really knows what is best without much public interference. more overi it suggests that the bureau will not be stopped by having to collect public comments. it's a division between the -- the seek to make regulations more eff

the bureau's rhetoric and actual operation. the leadership of the bureau has said that it will seek, quote, to make regulations more effective at achieving intended benefits for consumers while lowering costs for lenders. the bureau's remittance transfer rule suggests that lowering costs is not high on its priorities. the primary purpose of the rule is to lower the cost of remittances. yet the bureau's own analysis revials that compliance with its rule will require more than 7.6 million hours. that means that more than 3,800 full-time employees will be required to work on compliance for this single rule. so rather than conduct the cost benefit analysis to determine if this rule is justified, the bureau has indicated that it will impose the rule and examine its impact after the fact. ironically, we were told that the bureau would be data driven via data driven agency where research was there for its work. in contrast, it is suggested that when it comes to basing its rules on a thorough examination of facts and data, the bureau is

ly -- so is this an area that the bureau will be looking at? >> it is an area that we are looking at, it's an yarea of concern for the reasons i started. if you legislate on the subject, we will be happy to carry out the laws as you enact then. >> you talked about simplified rule making for smaller institutions and i think it's something that is welcome here, tell us how to agency will craft regulations and provide guidance that makes it simple and workable for community banks? >> and i'll say two things about the work we are already doing. number one we are trying to be highly inclusive in going about this. it was mentioned earlier that maybe the bureau has given the interpretation that we know best. what we find is we will know better as we hear from others, both the people that operate in these markets, the financial institutions and the consumers. our know before you owe program is around us getting more transparent, the kind of disclosures here, we have inherited a huge amount of rules from other agencies and published a federal notice aski

the drafters of dodd/frank did not include the bureau in this law, which is troubling. would you support an amendment that would apply the same privileged protection for documents given to the bureau as currently exist for documents given to the other federal banking regulators? and if not? why not? >> yes, we would support an amendment to correct what we believe was an oversight. >> okay. >> i have told the banking trade association that. and we're happy to work with them and you to get that fixed. >> thank you. senator moran brought up abusive, you know, definition of abusive, the word and so forth. during the discussions that led to dodd/frank, it became clear that some people wanted to ban some nonbank products and services. are there are any particular products that exist now that you would ban? or is this too early? is it possible for an identical product to be abusive for one consumer, and not for another? is that possible? and how would you make that determination if you saw that? >> so let me try to address both those questions. i don't think in terms of banning

immediately before coming to the bureau i served as ohio's attorney general. hat role i work with law enforcement, police throughout the state. ever presented the pension systems in the courts and enforce the state consumer protection laws. my main objectives in consumer protection were to help empower people to make better informed financial decisions for themselves and their families, and to stop the scams and frauds that not only keep consumers, but also undercut what-abiding businesses. at every stage of this work i believed, and i believe today that law enforcement, which is even-handed, fair and reasonable not only protect consumers, but also supports what i call honest ikeneways. can gain a significant and unfair advantage. law-enforcement protect against the cheaters. second, keeping the market place clean is crucial to giving consumers the confidence the baby to participate in the market -- they need to participate in the market. i have found a broad range of tools to address these. congress also gave us the critical ability to examine large banks and

we have done as you know, building the bureau. at is something we've been doing actively over the past year, both choosing staff, training staff and moving forward. at this point we are still close to the cradle. we have not issued a sensitive girl. you've not read a single enforcement action or issued a single examination report. but we have lots of work on the pipeline which would be toured in the rate of their production of product. so i'm not going to try to make news on any of those things today. those will be reported publicly when we are ready to report them in the work is like putting a cake in the admin. you put it in and it takes time before it's based. but we are actively moving forward on all fronts and will have more to say as these things right then. >> if i could take a third parade here. >> thank you. i'm john taylor with the national community coalition. thank you, mr. carteret and congratulations on your appointment. i want to get back to a question karen asked anew in. about this bipartisan issue and how you had

the consumer protection bureau financially open its doors in july. months before my colleagues on the other side of the aisle said they would be fighting with wall street and blocking any nominee. let me repeat that, any nominee from heading the consumer an extra protection bureau. not only would they be blocking anyone, regardless of qualifications, and i think we might agree that we have an eminently qualified candidate here who not only received the approval and support of consumer groups throughout the country, but the regulated industries that they oversee a positive things to say about him as an individual. not only with a plot anyone, regardless of qualifications, they demand that will radically change the structure of this new consumer protection agency month before it had even opened its doors and many more months after this matter with legislatively settled. the last time i checked, in a democracy, when there is an election of the people, they choose their representatives. you have both both in committee and on the floor, and then those vote

we have done as you know, building the bureau. e been doing actively over the past year, both choosing staff, training staff and moving forward. at this point we are still close to the cradle. we have not issued a sensitive girl. you've not read a single enforcement action or issued a single examination report. but we have lots of work on the pipeline which would be toured in the rate of their production of product. so i'm not going to try to make news on any of those things today. those will be reported publicly when we are ready to report them in the work is like putting a cake in the admin. you put it in and it takes time before it's based. but we are actively moving forward on all fronts and will have more to say as these things right then. >> if i could take a third parade here. >> thank you. i'm john taylor with the national community coalition. thank you, mr. carteret and congratulations on your appointment. i want to get back to a question karen asked anew in. about this bipartisan issue and how you had good success in work

the first thing i want to go over in the organization -- you can see we have lines of functional bureaus responsible for project management, construction management, engineering -- we are broken up like that so we can provide these services. half [crosstalk] the next part of the presentation is to define the roles that each of the group's infrastructure has so we talked about the rule of the program director and each one of the bureaus. that is outlined in the presentation, so i will skip over that period -- i will skip over that period we are a matrix organization and that means we set up teams as projects happen and the team is then dismantled after the project is over and we have some members of one team that actually works on another team when there's not enough to keep that person busy. that is how we can be more efficient. you may have some individuals working on multiple projects and both the full program so we can be efficient. that is why it's challenging to make sure we have enough work to keep everyone really busy. currently, about 77% of our work [inaudible] over the coming y

bureaus are also in their sights. some republicans are upset that president obama bypassed the senate to apoint codre and argue the bureauwer. askd about that, he believes his appointment is valid and hopes to build a good relationship with congress. melanie alnwick, fox 5 news. >>> the temperatures are creeping up. >> and can -- can you see the cold. if it was nights, you will love it. much warmer tomorrow, and i think some of you will touch 60 degrees and to the west, i will show you the hot that they're sighting -- sitting out there and that is a please an evening and it's a manly clear to partly cloudy night and that is. >> it. and it's almost getting hard to figure out what to dress as we start out with the cold mornings and the afternoons to come mild. another one tomorrow and that is into the weekend. meanwhile, we'll drop into the low 30s across the region and there will be some 20s out there. tell uses dropped down to 35 degrees; frederick, 36; gaithersburg as well and in this city, 46 degrees and quantico, 44 degrees and to give you an idea of the kind of heat that is headed in our direction and at least the un

the bureau will lead and support u.s. diplomacy, countering violent extremism, and build the capacity of partner nations to deal effectively with terrorism. there are many examples of the growing importance of civilian sowrnt terrorism work, what we hear call strategic counterterrorism which the secretary disusessed -- does -- discuted on september 9. just last september, you may recall a major initiative where we established the global terrorism forum with the goal of building an international architecture for dealing with 21st century terrorist threats. we offer policymakers and experts an opportunity to exchange best practices and to improve programming around the world. the new bureau works with partners on a wide range of challenges such as strengthening the rule of law in countries where terrorism poses the greatest threat. our aim to oversea -- ability to oversee programs which cover police training to countering the al-qaeda narrative is strengthened by the establishment of the bureau that leads the government in e

the law has provided that there is the financial literacy council and set up the director of the consumer bureau to be the vice chair of it, working with other agencies. but it goes beyond just other agencies. there are a lot of nonprofits. there are a lot of private sector banks and others who offer financial literacy efforts. there's no need for us to reinvent the wheel. when i was a state treasurer in ohio and we worked for financial education in our schools, and we eventually got a law passed that changed it so that every high school student in ohio now has too have personal finance education before they can graduate i think that's a good model for the nation. but there's lots of curriculum. there's lots of material out there, a lot of it is very good material. and if we coordinate with one another, we can -- we can save resources and be more effective and more efficient. that's what i think the financial literacy council is intending to do. and that will be my approach to it. >> thank you very much. >> mr. chairman, thank you. mr. cordray, thank you for being here with us today. today i wan

this provides an organizational chart about how the journalist affairs bureau is structured. the next slide about how the legislative affairs team -- the strategic planning team, communications and community benefit program. >> the priority in external affairs -- i appreciate the general manager framed with how you think about the work of the bureau. we take that seriously as to our counterparts in other bureaus. the count -- the priority [inaudible] we are in conversations with lots of other enterprises to see how well we're doing as far as providing legislative support and how is that keeping things up for the different enterprises as they

i am now the director of the bureau. the important thing for us, without trying to delve into details, is that we now have the ability to protect consumers across this country on both bank and non-bank issues, and we will be 100% focus. i personally am doing so. >> being double to work effectively with congress seems critical to fulfilling the bureau's mission. how will you be able to work with the congress that does not seem to like particularly the structure of the bureau, not to mention your appointment. >> i have always had success at the state and local levels of working across the aisle with leaders from both parties. on some hard issues, financial and difficult issues. i expect i will be able to do that here. our bureau intends to do that. i have personally committed to legislative leaders in both parties in both chambers that we will get the information and input they need to help us do our work, and i am committed to doing that. >> let me now turn to the work of the agency. i thought your discussion on the campai

this provides an organizational chart about how the journalist affairs bureau is structured. the next slide about how the legislative affairs team -- the strategic planning team, communications and community benefit program. >> the priority in external affairs -- i appreciate the general manager framed with how you think about the work of the bureau. we take that seriously as to our counterparts in other bureaus. the count -- the priority [inaudible] we are in conversations with lots of other enterprises to see how well we're doing as far as providing legislative support and how is that keeping things up for the different enterprises as they do their operation and the strategic plan, how the enterprises using that as a tool. the second priority is around education and engagement. there has been a lot of thinking this past year about how we bolster our capacity to provide education and engagement of the public in difference takeovers on what the puc does. we talk about as a cradle to grave approach as far as wanting to go after the next generation of white -- of ratepayers and

, and the commander from the operations bureau. this evening we are going to start with a few words from the chief of police gregory suhr. >> good evening. i want to thank everybody for being here. we are a very proud police department, rich in tradition. this week, we had a promotion ceremony on monday where we promoted sergeants, lieutenants, captains, and members of the command staff. we've recently brought back the retirement ceremony. i think for everyone in the police department, this particular ceremony stands above the rest. every day, the men and women of the san francisco police department go out and put it on the line every single day. they leave their families and little ones -- it is so great to see the kids and parents here. every day, they go out to put themselves between the bad guys themselves without us. more than every once in awhile, the officers do something extraordinary. you will hear some stories tonight that are going to make you amazed that someone would do that for someone they have never met before. i kno

the argument against, as an independent bureau funded through the federal reserve, it has too much power. the senate banking committee's richard shelby. >> this massive new bureaucracy was designed by the drafters of dodd-frank to be virtually unaccountable to the american people. >> reporter: the struggle preceded cordray's appointment. harvard law professor elizabeth warren set up the bureau as a special advisor after it became clear she would never be confirmed by theson senate. she was opposed by business by backed by consumer advocates who produced a rap video on her behalf. republicans meanwhile distrusted the bureau. as seen in this confrontation with north carolina's patrick mchenry about how long warren would appear at his hearing. >> congressman, we had an agreement. >> you had no agreement. >> we had an agreement for the time this would have.... >> you're making this up. >> reporter: since a warren nomination seemed a non-starter, president obama tapped cordray, a former tough on crime attorney general of ohio who was already the bureau's head of enforcement. but in a letter t

now the new bureau of energy resources is our single point of contact on all energy issues. enr is already working in close coordination with the department of energy to keep energy markets stable as we implement sanctions on iran, and to lead our global strategy with the u.n. to achieve sustainable energy for all. sand enr taps skill sets from across the government from treasury, commerce, interior, among others, to run the energy governance and capacity initiative, which is helping countries use their own energy resources transparently to actually benefit their own citizens. [ applause ] we also reconceived the role of the undersecretary for global affairs now known as the undersecretary for civilian security, democracy, and human rights. we wanted to focus on those areas. civilian security and the other essential elements of building safe, fair, and just societies. we erased the organizational distinctions between what was once viewed as hard power and soft power, you know, the kind of security concerns with the hard edge in order to look more comprehensively and in depth

, and the commander from the operations bureau. this evening we are going to start with a few words from the chief of police gregory suhr. >> good evening. i want to thank everybody for being here. we are a very proud police department, rich in tradition. this week, we had a promotion ceremony on monday where we ceremony on monday where we promoted sergeants,

the president appointed richard cordray to head the bureau. it regulates everything from mortgages, to credit cards, to pay day loans. republicans say that cordray's appointment is not valid because of the way it was handled. cordray predicts they're going to come around. >> the congressional leaders, they hear from and they serve the very same people that we're now serving. they hear the stories about people losing their homes, buried in debt that they didn't understand or maybe wasn't fully explained to them, frauds and skam scams that occur out there. our job is to make the marketplace work better for consumers. as we do that, we'll win our way forward. >>> a bomb blast ripped through syria's capital today. state tv reports that 25 people were killed, 46 others wounded. most of them civilians. the syrian media are calling it a terrorist suicide attack. now the government blames similar bombings two weeks ago on al qaeda. the opposition accuses the government of staging the blasts to back up a claim that it's fighting terrorists. >>> iran pla

, and the commander from the operations bureau. evening we are going to start with a few words from the chief of police gregory suhr. >> good evening. i want to thank everybody for being here. we are a very proud police department, rich in tradition. this week, we had a promotion ceremony on monday where we promoted sergeants, lieutenants, captains, and members of the command staff. we've recently brought back the retirement ceremony. i think for everyone in the police department, this particular ceremony stands above the rest. the rest. every day, the men and women of

i can relate to the bureau, but not the deutsche mark. >> i would choose the deutsche mark because we have stability in the currency was worth something. >> the euro, i will tell you why. because of the open borders. because of europe. >> it is a good currency. let's hope it stays that way. >> bring back the deutsche mark. a currency for every nation so we know where it is up. nobody knows where they are with the euro. >> my husband is a banker. he is skeptical, but thinks there is no alternative. >> is there really no alternative to the common currency? many consumers would beg to differ. a lot of germans would rather have their deutsche mark back. there are similar sentiments for the franc and the lira. but german businesses will tell you there's no going back and they like it that way. germany is the world's second largest exporter ahead of china and the head of the united states. german companies have done nothing but profit since the euro became the legal tender of much of the confident. -- of the continent. >> german exports are his job. he stacks them 6 bill ayers hi. the boxes

the second page of attachmente, you have the bureau of infrastructure that shows slight increases. in the context of our nearly a billion dollar budget, you will see it is a small percentage of the budget. nevertheless, 34 positions substituted, as opposed to asking for new ones, and it has a small impact on the line item of the budget. >> if i may, with respect to -- let's go to hetch hetchy. that is where refined -- is that a salary savings? is that correct? >> in that case, it would be a salary increase of 36 dives in dollars. a positive number here would be a slight increase in cost. a negative number would be savings on the sheet. >> reading it correctly, with respect to that particular chart, the first two classifications listed, the first one is 1842, the second one is 1646. am i to assume that the individual in the 1446 classification has been promoted to an 1832? is that what this chart is showing me? >> no, it is not. it is saying that of our 2300 or so positions, at any one time, about 10% to 12% of those positions are vacant and that really fund but we need for operation