You have documents as part of the file submitted to myself the clerk and Public Comment on each item on the agenda. When your item come up and Public Comment is called lineup on the west side to your right, my left. And not necessary to provide comment we invite to you fill out a card by the doors. If you wish to be recorded for minutes you may submit comment in writing. E mail them to mis the budget and finance clerk at brent. Jalipa sfgov. Org. If you nit e mill tell be forwarded to the supervisors and included as part of the official time send written comments by u. S. Postal service to city hall 1 dr. Carlton b. Goodlett place room 244, San Francisco, california 94102 and items acted upon today will appear at the board agenda of march fifth unless otherwise stated. Thank you, mr. Clerk. Before we call item one remind everyone we have budget and legislative Analyst Reports for items 69, 11 and 12 on todays agendaful for those items we will have the presentation followed by the budge
Good morning the meeting will come to order the february 28 budget and finance im connie chan chair, im joined by vice chair mandelman and melgar. Our clerk is brent jalipa. And i want to like to thank corewin cooley from sfgov. Org for broadcasting meeting. Thank you a reminder those in attendance make sure to silence Electronic Device not to interrupt our proceeding fist you have documents as part of the file submitted to myself the clerk and Public Comment on each item on the agenda. When your item come up and Public Comment is called lineup on the west side to your right, my left. And not necessary to provide comment we invite to you fill out a card by the doors. If you wish to be recorded for minutes you may submit comment in writing. E mail them to mis the budget and finance clerk at brent. Jalipa sfgov. Org. If you nit e mill tell be forwarded to the supervisors and included as part of the official time send written comments by u. S. Postal service to city hall 1 dr. Carlton b.
Okay. We are back. Next, we are going to go to the gentleman from tennessee, mr. Rose, for five minutes. Thank you to director chopra for being here today. Director chopra, last month, the New York Times ran an article with the headline calling you, quote, wall streets most hated regulator. And that bankers believe that you are a regulator gone rogue. Do you agree with the characterization that you are wall streets most hated regulator and a regulator gone rogue . Certainly not, but you know, you will have to ask them. We try to make sure that all of our work is with the Public Interest in mind, including with Financial Institutions. I want to say this to you. I feel this strongly about all of our federal regulators. In my view, your first responsibility is to help those who you regulate comply with the regulations. That your entire approach to that regulated community that you deal with should be to empower, enable, inform, educate, facilitate their compliance with the regulations tha
Consumer Financial Protection Bureau director talked about Financial Systems and Digital Currency including the evolution of Digital Payment systems, control over the flow of money, ecommerce and data privacy. From the Brookings Institution this is 40 minutes. If everyone could take their seats we are going to keep the program rolling. That was a lively and fantastic first panel that covered the credit card reward points to crypto currency to real life what do you do when you need to access your money and its really the focal point of the next speaker. That itself is a massive accomplishment in washington that i think is often underappreciated. Time in government is finite. To effectuate a change is a metric to service by but i can think a few peoplele that are as skillful and impactful in their career and effectuating change before becoming the director who was confirmed unanimously to be a commissioner of the federal trade commission. Weve had a Big Conversation talking about back of
Hurt. Congress could address the issue pulling things accountable incentivizing them to prevent such scams. A College Student in retiree who share their experiences of getting scammed. This is about two hours. Subcomt subcommittee on investigations we Work Together on a bipartisan basis. Very pleased to welcome you to this hearing. On investigation entitled stirring on fraud alert shedding light. Ill give an Opening Statement to be followed by Ranking Member. The banks of america have a dirty little secret. It is called zelle its not just to sell its other paid platforms, apps that people used to transfer money among their Bank Accounts. The cell is nearly instantaneous. Almost always irreversible and it is owned by banks. In fact, zelle is the largest. Too. Payment app it is operated Early Warning services which in turn is owned and operated by the seven largest banks for it zelle is often integrated into consumers existing online Bank Accounts and mobile apps. Zelle markets itself as