understand the terms they sign when they take on credit card debt, home loans and student financial aid. he tapped warren for the agency s first director, but she was dropped by republicans and strong lobbying from the financial industry. instead richard core dra has taken the mantel. to date the bureau has secured some $12 billion in relief for an estimated 29 million consumers. it s imposed nearly $600 million in civil penalties on financial institutions, including a $100 million fine sclapd on wells fargo when bank employees were caught opening a million and a half fraudulent accounts in their customers names. the regulators are running the banks, so we re going to do a very major haircut on to do frank. despite its accomplishments, the cfpb is a frequent target of president trump and republicans in congress who want to dial back regulation, not increase it. they claim the agency unfairly pishz lenders with complicated
rules that just hurt businesses and consumers alike. all right. for more i want to bring in richard core dra. he is the director of the consumer financial protection bureau. thanks for being with us. what s your push back on this? a number of people in this town want to get rid of. what s your best argument for not touching it? well, i don t think we want to go back to the days leading up at no time financial crisis. we didn t have anybody looking out for consumers. the mortgage market got completely out of hand. it blew up the economy. now that we have an agency in place that s standing by the side of people and their families, i think that s been a great advance and i think we should absolutely maintain its independence. is it because we re far enough away from that that people don t necessarily get up in arms about the suggestion that the cfpb should be unwound or under be fired as has recently been suggested. i wonder about that. i think the financial crisis was now almost te