Richard Cordray: “I think they are critical to the credibility of the agency and I think you have every right to demand that from us, and…”

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.

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.

It is flatly against the law for a debt collector to threaten anyone, let alone a servicemember, with consequences that a debt collector has no ability to carry out.

We enforce the Equal Credit Opportunity Act. We work with the Justice Department on those matters.