the ceo of ne community federal credit union. since 1988, she has been the ceo of northwest community federal credit union. under her watch, the credit union group to over 1600 members. it has become the national model for institutions seeking to provide financial education and banking services to the low- income communities. last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we shou

the capitol. leaders agreeing on a second multi-million dollar bailout for greece fears over the union delving deeper into debt the. major u.s. credit agency to say grade the group. and the latest from oslo in half an hour's time we'll bring you the news in full and between now and then we travel to russia southern region the boast magnificent of unspoiled. mountain ranges and hills roll across the landscape intricate crests and rocks tower of centuries old trainees. in the water wind and rocks constantly advised supremacies they exist in a unique common. deep holes in the fight on the mines swift mountain streams and quiet springs flow from the ground. this is tiger night nature's peculiar creation on the border between the urals of siberia it is the site as one of the brushes out of the way national parks. when national park warden valentin gregorio is on duty he uses a customized off road vehicle with large wheels to move around the forest crossings are the easiest way to the peaks of the ground tyga ny ridge you don't find roads all footpaths here. adventure enthusiastic so not put off by the hardships of the journey this group of tourists is from the city o

the government does default on its debt. state treasurer says he has asked a group of banks credit union and investment fund for bids on private loans. he says he's concerned that the state could be short changed on health care and education funding. >> house speaker boehner today predicted republicans will eventually accept a compromise in raising the debt limit but there has been no deal so far as you have heard and it now appears a house plan involving spending cuts and balance budget amendment is headed for days feet in the senate. mark is here with the fact check. >>reporter: republican response to any suggestion of a tax hike is a phrase you have heard before. >> washington has a spending problem not a revenue problem. >>reporter: fact check numbers show that's only half right. at 24 percent of the gross national product federal spending is about as high as it has been in 60 years. but lack at the revenue side. federal tax revenue are at the lowest point they have been since 195 1950. democrats blame those bush tax cuts for the rich. >> tax cut i'm proposing we get rid of our tax break for millionaire and billionaire. >>

the dozens of credit unions and credit union officials. i have spoken too big banking sectors, the trade association, a government watchdog groups and consumer advocates across the country. i am pleased to report that out or initiatives on improving market reforms, supervising credit businesses and setting up a strong military service offices have received widespread support from those individuals across this country. in my written testimony, i describe in detail the steps to provide meaningful oversight and to make sure it remains accountable to congress and the american people. i appreciate the opportunity to discuss that oversight today. members of the committee, elijah cummings, thank you for alumnae to testify. we are preparing this agency to begin its various responsibilities in appreciate these important oversight roles of the committee and your efforts. >> i thank the gentle lady for her comments. i will now recognize myself or five minutes. i received from kim wallace in legislative affairs department, it rather interesting response to our document request -- one second. we will leave you with a copy of it. i think he works capri fo

the union delving deep into debts the deal clinched the summits in brussels prompted a major u.s. credit agency to say will downgrade the group debts to fold states. there's skepticism in serbia over joining the e.u. despite officials maybe the rest of gorn have its will short hop belgrade's road to membership serbia's last week prime suspects carved normally to the head. and then back to the media mogul rupert murdoch praises him self for in the legal and financial fight in the west but many americans say the tide hacking scandal is many a sense of obvious response to that increasingly the likes of his wife to. get what i suspect was news of the way now with aids. hello welcome to the sports news this friday afternoon life a lot here in moscow and here's a taste of what's coming up golden girl in the tell ye shake it claims her fifteenth career goals as russia dominates the synchronised swimming at the aquatics world championships in shanghai. while out running the bulls ferrari's fernando alonso beat small glamour and sebastian vettel to set the pace in practice the german go on parade. and grandmaster splash we meet russia

credit unions and credit officials. i have also spoken with big banking executives with trade associations, with government watchdog groups and the consumer advocates across the country. i am pleased to report that our various initiatives on improving mortgages and supervising non-bank credit businesses and setting up a strong military service office has received widespread support from both individuals and groups across this country. in my written testimony, i also described in detail the steps congress has taken to provide meaningful oversight over the cfpb and to make sure that it remains accountable both to congress and to the american people. i appreciate the opportunity to discuss that oversight today. so, without chairman isayah, ranking member comings, members of the committee thank you again for inviting me to testify about the consumer financial protection bureau. as we prepare this agency to begin its various responsibilities, we appreciate the important oversight role of the committee and we thank you for your interest. >> i:the gentlelady. without i will recognize myself for five minutes for a first round of question

to make sure we deeply understand the markets we will be regulating, we are in touch with credit unions, consumer groups, academics, and others. a comprehensive approach requires the coordinated action of a larger group of federal agencies. the bureau will be working with those agencies. consumers and the industry will benefit when regulatory action is careful and coordinated. two weeks from now, the bureau will be ready to start helping consumer finance markets work for the american people. i am confident that the results of our efforts will make the servicing market work better for everyone. thank you for the opportunity to testify. >> thank you. our next witness is the honorable luther strange. >> thank you chairwoman and ranking members. my name is luther strange. i am the attorney general for the state of alabama. thank you for inviting me to testify. the alabama attorneys general office joined other states to investigate whether mortgage servicers violated laws. alabama is a non-judicial foreclosures states. . in march of this year, the working group submitted a report on behalf of attorneys gener

credit. >> that was treasury secretary timothy geithner on cnn's "state of the union" warning of the dangers of a financial default. let's talk about it. contributor. public policy researcher grouplcome to both of you. that was a mouthful. i got that out. okay. >> thanks, don. >> okay. we've got talks that are going on at both ends of pennsylvania avenue by phone or at the white house. so, will, geithner says he wants politics out of the debt ceil debate, but this whole stalemate is nothing but politics, right? >> absolutely. let me say this. they've maintained kind of a moral high ground. obama has come off as the adult in the room. but geithner managed to politicize two issues and illustrate why this is falling apart. there will be no defought. we don't have enough money to cover our bills but we will pay our bondholders. why would geithner suggest we wouldn't. making sure the debt ceiling goes beyond the next election. >> what about people saying this is a manufactured incident, this is a manufactured crisis here, this whole debt ceiling thing. >> it is a manufactured crisis in the sense of, you know, where was the outrage from the republican party about the skyrocketing debt

credit unions. we've been able to put out multiple iterations of the forms. we've been able to adjust. we've been able to consult with groups in ways that is not possible in the legislative process. >> would the gentleman yield? >> yes. >> i think mr. gowdy is very happy you're doing what you're doing. i think what he's really asking is -- does congress have a right to look over your shoulder and did that statement indicate that you think that not congress, not looking over your shoulder, second guessing your funding or in fact your actions, i think the question -- and i haven't heard an answer. >> i'm sorry, congressman. my direct testimony this morning is, of course, we need to be responsible to congress. the congress should look over our shoulder 24 hours a day, seven days a week. i was trying to explain, once i understood where the passage came from, i was trying to understand what that passage meant. >> let the record reflect your article did not go into the detail that your answer this morning went into on that nuance point and so i'll ask a less nuance question. >> yes, sir. >> what about congressional involvement in