When you or I, and I venture to say every one of the people who is sitting in this room, when we write a check or we make a bank transfer or we use a credit card, we are entitled to some basic consumer protections.
Cordray emphasizes the importance of consumer protections in financial transactions.
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We have to oversee the financial institution. We have to be able to understand the pattern of how they treat their customers.
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.
That is the law we are required to enforce. We will enforce it vigorously, and we believe to root out discrimination, which nobody supports, in any of these markets.