Richard Cordray: “Congress clearly indicated its purpose, to protect servicemembers in this area, and the rules did not get that job done.”

If there were a basis for doing so, I would do so. But I am not going to scapegoat people just to satisfy you or anyone else.

We had known about these types of problems from our own sources, but if any institution feels that they can divide and conquer among the regulators, they should know that that is a mistake.

I don't think that we should be in the business of distinguishing between different kinds of economic activities that are legal merely because someone might favor or disfavor one or another.

We also want to make sure that when a consumer goes in to get a loan to buy a car that they are not unwittingly being forced to pay more based on assumptions made about their racial or ethnic background.