Bartiromo: I Can’t Think of One Thing the CFPB Has Done to Actually Empower the Consumer
BARTIROMO: "Elizabeth Warren wants everything to be decided in the courts. Because she is trying very hard to make long, lengthy processes out of anything that the president tries to do. And that’s the point. But you really hit on the point of all of this and that is the consumer. What exactly has this agency done? You know, I was watching another network earlier and they were heralding the idea that the Consumer Financial Protection Bureau made sure that Wells Fargo paid up for the account scandal. Make no mistake the Consumer Protection Financial Agency did not do anything about Wells Fargo. They didn’t even trip over the fact that Wells Fargo had created all of these fake accounts. Who did that? The 'L.A. Times.' The 'L.A. Times' broke the story of Wells Fargo and then --"
SMITH: "Great point."
BARTIROMO: "-- the Consumer Financial Protection Bureau said, OK, you have to give us money. So, again, I can’t think of one thing that this agency has done to actually empower the consumer and help the consumer. What they have done is taken a lot of money from the banks, the major banks have paid up to the Consumer Financial --"
SMITH: "And made it hard for them to do business."
BARTIROMO: "What did they do, they sat on cash, Sandra."