The Consumer Financial Protection Bureau was built in the spirit of abundance. Before abundance was hip, the agency consolidated scattered authorities and streamlined bureaucratic processes. And best of all, it worked. Every year, the agency [CFPB] rooted out the fraudsters and returned more than a billion dollars to people who had been cheated. The CFPB should be a poster child for government efficiency. And sure, there are plenty of other places where we can cut red tape. But we should make a clear diagnosis of the problem. (12:39–12:48)
CLAIM
Asserts that the CFPB returns over a billion dollars annually to defrauded individuals.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
