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Order. Today we will receive test her name from the honorable Federal Reserve vice chairman for supervision. The honorable with mcwilliams, chairman of the fdic, and the honorable ronnie hood, chairman of the ncua welcome to all of you. This hearing provides a committee an opportunity to examine current state of and recent activities related to regulatory and supervisory activities of these agencies. Its been over a year now since the enactment of s2155 the Economic Growth regulatory relief and Consumer Protection act and the work of the agencies to implement most of the law of provisions. Including the tailoring rules for u. S. Banks and u. S. Operations in foreign banks. Your agency should also carefully review the existing supervisory frameworks and make any necessary adjustments to appropriately and line them ....
Was that they got an opportunity to go to court. And thats referred to as constructive exhaustion of revenues. And the plaintiff has an absolute right to go to court after 20 working days. But its not clear that they have much other remedy. But anyway, judge brown, kettani Brown Jackson said that this case, the crew case basically stood for the proposition that once the agency had not responded in time you got to go to court. And that was it. Epic argued largely because they had won this on similar situations in 2006, that there was a presumption that the agency would violate by not responding on time and that gave them permission to continue the case process to have the case process. Jackson basically said well now that the crew case exists, the crew versus fcc fcc basically the only remedy you have is to go to court and hopefully you can get the court to be more and amenable to your argument but you dont get to force the agency t ....