The Bureau is not designed structurally to be accountable. By its very DNA, by its very nature, it is not accountable to you, it is not accountable to the public, it is not accountable to anybody, other than itself.

Am I correct on that?

And that is what is so frustrating is it is so oftentimes what we do is I do not think we give enough consideration to what the intended or unintended consequences are, which is that people are not going to have access to the credit and…

Actually, with respect, Congresswoman, I would suggest that I am the one responsible for implementing Dodd-Frank, not you.

When it comes to enforcement, we will focus on quantifiable and unavoidable harm to the consumer.

American consumers deserve strong protections, while also being afforded the opportunity to control their own financial decisions and futures.

I think the Bureau screams out to be reformed.

We absolutely have a role to play in eliminating discrimination in the housing market. Yes, sir.

I see no reason to change the policy, Congressman.

I absolutely think that discrimination is abhorrent, and we should fight against it.

I'm going to try really hard to try and fix that, to tailor regulations to the size and the sophistication of the various entities that we oversee.

The overwhelming majority of the folks I think who work there just want to be good bureaucrats.

We do take that seriously, and seriously enough to put in our semi-annual report.

We just want to be good bureaucrats and implement the law.

It wouldn't be appropriate for me to say we are or are not going to do that, because we are going to go through the proper procedures.

I am going to enforce the law because that is what I get paid to do.

I absolutely think there are better ways to protect consumers than we are doing today.

Our job is to enforce Federal consumer laws.

I think it is fair to say that, as of this point in time, the Bureau of Consumer Financial Protection is probably perceived as being closely aligned with Senator Elizabeth Warren.

I just happen to think that that is wrong. That is that enforcement by--or regulation by enforcement that I talk about.

I think you should be allowed to know what the law is before you are accused of breaking it.

I believe that to be the case. Yes, sir.

It is extraordinarily difficult to reduce the size of a Federal bureaucracy.

I am not required to do that.

Actually, nothing could be further from the truth, Congresswoman.