Mick Mulvaney

I think since I have gotten there, things have changed.

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.

The Consumer Financial Protection Bureau does not exist.

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…

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.

We have given notice of our intent to look at some changes--again, going through the proper administrative procedures.

Regulation by enforcement is done. We are not doing it any more.

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

Taking a meat cleaver to it. Yes, sir.

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

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

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

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

I support consumer financial protection.

I cannot change that. So if it is going to exist, this is what could be done to improve it.

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

I do share your concerns, and maybe we can talk, if somebody wants to, about some of the data security issues that we face, as an agency.

I think the answer is that the financial crisis was a system failure of major proportion.

It was a distribution that was approved while I was on the job.

It turns out being a joke, and that is what the CFPB really has been, in a sick and sad kind of way.

I don't like the fact that the CFPB exists. I will be perfectly honest with you.

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.

I am not required to do that.

Am I correct on that?

Yes, I think we would be able to do that.