I stand by and believe this was a reasonable approach to how to get relief to hundreds of thousands of consumers who were discriminated against under the disparate impact theory that I know some people disagree with, but the Supreme Court has reaffirmed is the law of the land.
Cordray defends his approach to consumer relief despite disagreement.
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$11 billion turned back into the economy, in the hands of ordinary working people, is pretty good.
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 remain committed to ensuring the OCC completes its review of this matter and takes additional actions to hold the bank and individuals accountable as warranted.