Elizabeth Warren

I actually want to start with COO because in the way I understand this, this becomes even more important.

We believe in enforcement at the consumer agency, yes, sir.

You could have the laws in place, but if the people on the other end of the phone are not aware of them or are not applying them properly, then it is not going to work.

Congressman, repeal the--giving the agency the powers that Dodd-Frank has given it, you know I think what we ought to do is we ought to get out there and get started on behalf of the American people.

I think we should start with much clearer disclosure. I don't think it's appropriate to take any tool off the table.

I have seen a letter that says 44 Senators will block any nominee to head up the Consumer Financial Protection Bureau unless the bureau is substantially changed.

Oh, I apologize. I currently am the Special Advisor to the Secretary of the Treasury for standing up the consumer agency.

Well, it's set up to have oversight in terms of its money.

No, sir, it passed, and I believe there were--there was some bipartisan support, but I don't think it was overwhelming.

Half of our entire budget and our FTE will be about supervision and enforcement.

There's a whole process in place for this, that starts with research, that starts with community outreach.

I think you may overstate the power of the director.

I asked them at many points along the line, I know there have been other changes--I know it costs every time forms are changed--is this something you want us to go forward with? And they have said yes.

The one that we have teed up right now is this TILA RESPA combination, trying to reduce the paperwork around mortgage origination.

We will be there. We will be cops on the beat to do that starting next week.

We will. Starting next week, on Thursday, July 21st, we will receive transferred authorities...

Subprime lending, payday loans, and a host of predatory high-interest loan products that target minority neighborhoods should be called by their true names, legally sanctioned corporate plans to steal from minorities.

Payday lenders have a bad reputation for taking advantage of people. No one should expect to be treated well by them.

I appreciate the advice, but actually, no. I think that what we should be doing is concentrating on the places where we can best make changes in the marketplace.

The concern is, is that right now, they have a lot of rules that they're trying to put into place.

Yes, sir, there will be.

The number one reason for losing a security clearance in the United States now is a problem over credit.

People expect you to meet your obligations that you have already incurred and they expect you to meet those a 100 cents on the dollar.

We have a lane we are supposed to swim in... about consumer credit, consumer credit products.

I think there are some very real concerns about the difficulty that consumers have reading insurance contracts.