House Financial Services Chairman Barney Frank’s latest comments on the BCFP:

The consumer bureau will protect customers from subprime mortgage abuses, excessive overdraft fees, regulate check cashing services that charge exorbitant fees and require lenders to give customers clear information on their loans.

“It is the single best set of consumer protections in U.S. history,” he said.

Frank said he is proud of the overall financial regulation bill passed in the summer which, he said, will make another financial crisis “very, very unlikely.”