Fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is anymore important than the other. They increase transparency and trust in the u. S. Stock market, providing investors with what they need to make informed Investment Decisions. It also helps investors participate on a fair footing so that they can prepare for important milestones in their lives such as retirement, college or other life changing evep events. Its critical that the sec continue with this mission. At the same time it must be cognizant it could carry risks to the very investors it seeks to help. The commission collects and store as huge amount of public and nonpublic data. If this data were subject to a cyber breach, it could have severe consequences to the markets, market partis pants and to the American Public. I was disturbed to learn that the sec suffered a cyber breach of its edger system in 2016 but did not notify the public or even all of its commissioners until it wa
[indistinct chatter] [indistinct chatter] the Senate Committee will come to order. Todays hearing, as usual, it is in the hybrid format. Witnesses are in person. The witness, mr. Gensler, nice to see you. Our witnesses are members have the option to appear in person or virtually. Welcome back, chair gensler, to this committee. Workers and their families do not measure the economy by the stock market. Neither should we. It is why in the senate and in the new biden administration, we work to create an economy that delivers results for people who get their incomes from a paycheck, not an investment portfolio, raising wages and good paying jobs and lowering costs means fighting the corporate price gouging that so often hurts consumers and the unfair labor practices that so often hurt workers. That means investing in the future of american manufacturers and the workers and farmers who drive it. It means making sure our financial watchdogs keep our economy and our markets stable. At the scc,
Witnesses are in person. Mr. Gensler, nice to see you. Members have the option to appear in person or virtually. Welcome back, chair gensler, to this committee. Workers and their families do not measure the economy by the stock market. Neither should we. It is why in the senate and in the new Biden Administration we work to create an economy that delivers results for people who get their incomes from a paycheck, not an investment portfolio, raising wages and good paying jobs and lowering costs means fighting the corporate price gouging that so often hurts consumers and the unfair labor practices that so often hurt workers. That means investing in the future of american manufacturers and the workers and farmers who drive it. It means making sure our financial watchdogs keep our economy and our markets stable. At the fcc, that includes going after companies to try to cheat the market. Chair gensler is doing that very well. It means strengthening corporate disclosures to stay ahead of ris
The hearing before the Senate Banking committee is just over two hours. Witnesses are in person. Mr. Gensler, nice to see you. Members have the option to appear in person or virtually. Welcome back, chair gensler, to this committee. Workers and their families do not measure the economy by the stock market. Neither should we. It is why in the senate and in the new Biden Administration we work to create an economy that delivers results for people who get their incomes from a paycheck, not an investment portfolio, raising wages and good paying jobs and lowering costs means fighting the corporate price gouging that so often hurts consumers and the unfair labor practices that so often hurt workers. That means investing in the future of american manufacturers and it means making sure our financial watchdogs keep our economy and our markets stable. At the fcc, that includes going after companies to try to cheat the market. Chair gensler is doing that very well. It means strengthening corporat
Large variety of small dollar personal, auto, and Small Business loans, as well as critic, arts mortgages, and home equity credit lines. These can generate consumer benefits by lowering the price of Financial Products, expanding Consumer Choice and increasing competition. Often, they provide access to credit for higher risk borrowers such as consumers with lower incomes or no credit history, all through a highly supervised financial institution. Unfortunately, some bureaucrats and some lawmakers seem to react with hostility to almost any new Financial Products. Democrats in congress have majority branded bank fintech partnerships in general as rent a bank schemes. Last year they overturned and obc occ rule that provided over unfortunately, by attacking legitimate bank fintech partnerships, our democratic colleagues risk restricting access to needed credit for lower income consumers. And then theres the cfpb. Under director chopra, the cfpb has repeatedly demonstrated hostility to innov