. >> usery. >> usually it was a case where the people in the field, the bankers, successfully lobbied and finally persuaded the theologians that their practice was a moderate interest. that could be that you needed some interest to stimulate the comments so that in a long battle that went on for i would say from 1500 to 1700, the people in the field persuaded the theologians that what they were doing was acceptable and banking in a moderate rate of interest was okay. >> now, we touched lately on three of marriage closely very, and lending. how did you select these three? we have the religious freedom law to go. >> i suppose i went back to lending because i started with that. slavery because it was just boldly over. and then marriage i have written a separate book on that, and i had seen that this development was in the process. it has now become even more obvious that change is occurring here, that this is not a closed. , but i would say it is an active. of change with people in the field thinking more and more about the publications that the church has power to dissolve marriages for

there were rigious texts of the old testament that prohibited usery. is it we understand where you're coming from. ks on twitter --twitt guest: the answer to that question is no. this is not a consumer-facing product. host: you mentioned mortgages as a play people may see -- place people macy activity of this bureau impacting them. also, credit cards. can you take us through the actual examples of what m.a.c. when i open my mail. what might look different? guest: i will take a very good exampl from credit cards. have you ever got a credit card offer in the mail? you will notice that is specifically in your name. that is for you. that is not a generic offer. it is not like a pair of shoes or dress you might buy. that only works for you. the idea behind a shopping sheet, whether it is for mortgages or credit cards is that you can get something from a credit card company that might say we will offer you this credit card at this interest rate with these penalties if you pay it late, and that might be from bank of america. then you might go into the branch

there were religious texts of the old testament that prohibited usery.s it we understand where you're coming from. ks on twitter -- twitt guest: the answer to that question is no. this is not a consumer-facing product. host: you mentioned mortgages as a play people may see -- place people macy activity of this bureau impacting them. also, credit cards. can you take us through the actual examples of what m.a.c. when i open my mail. what might look different? guest: i will take a very good example from credit cards. have you ever got a credit card offer in the mail? you will notice that is specifically in your name. that is for you. that is not a generic offer. it is not like a pair of shoes or dress you might buy. that only works for you. the idea behind a shopping sheet, whether it is for mortgages or credit cards is that you can get something from a credit card company that might say we will offer you this credit card at this interest rate with these penalties if you pay it late, and that might be from bank of america. then you might go into the branch

we have no authority to engage in usery caps. >> that wasn't my question. my question is, do you think payday lending should be banned? >> congressman, payday lending is one of the areas that will be under our jurisdiction. >> do you think it should be banned, professor warren? >> congressman -- >> you just said no one should expect to be treated well by them. you also -- you also said so prime lending, payday loans and a host of predatory high interest loan products that steal from minorities, that seems like a wonderful thing to ban or should they be banned? >> or to make better. we have a whole agency and a process to work on this. we have a lot of different tools at the consumer financial protection bureau. one of the advantages we have is that it is possible to work on multiple fronts at once. >> so with respect to -- >> mr. chairman, i call for regular order. >> excuse me. mr. gowdy, i apologize. mr. ross' time has expired which is why i was already gaveling. we now go to the gentlelady from california, ms. speier. >> thank you, mr. chairman. and than