CNN "The Leade with Jake Tapper" - Transcript: Interview with Senator Elizabeth Warren of Massachusetts

Interview

BREAK IN TRANSCRIPT

TAPPER: In our politics lead today, Mick Mulvaney, the president's budget director and now also the acting director of the Consumer Financial Protection Bureau gave a speech to bankers this week that raised some eyebrows.

First, he said he didn't want to, quote, run a Yelp for financial services sponsored by the federal government, unquote, and he wants to shut down public access to a Website where consumers could see complaints about banks. And then also in that same speech he talked about his relationship with lobbyists and constituents and said, quote, we had a hierarchy in my office in Congress. If you were a lobbyist who never gave us money, I didn't talk to you. If you were a lobbyist who gave us money, I might talk to you. If you came from back home and sat in my lobby, I talked with you without exception regardless of the financial contributions, unquote.

Joining me now is the Democratic senator from Massachusetts, Elizabeth Warren. She helped create the Consumer Financial Protection Bureau. It was her idea.

Senator, let's start with the part that has to do with lobbyists and campaign contributions.

SEN. ELIZABETH WARREN (D), MASSACHUSETTS: Yes.

TAPPER: What do you make of that?

WARREN: Most corrupt administration ever. I mean, come on. This is a man who stood up in front of 1,300 people and said, you get to listen -- you know, the congressman will listen to you, but only if you pay. That's called pay to play. And that's just another way of saying it.

This joint runs great for those who can hire armies of lobbyists and lawyers and have them make big campaign contributions, but not here for real people.

TAPPER: So, just to play devil's advocate. Is it not possible that Mick Mulvaney was talking about the reality of the Washington, Democrats or Republicans, that if you give campaign contributions, you'll get to meet with a member of Congress?

WARREN: Well, look, if he is, then he's describing widespread corruption and there is widespread corruption in this place. But let's be clear, he described a policy in his own office. That was exactly his description. And that's the part really that gets me about this.

He wasn't even embarrassed. You know, it's not like he whispered this off stage. He said it to a couple of people and someone secretly recorded it.

He is so corrupt that he is willing to just lay it all out there in front of everyone. He said, I am a government official ho pays attention to those who pay me, and if that's not corruption, I don't know what the definition of corruption is.

TAPPER: I want to also talk about the part of this having to do with the Consumer Financial Protection Bureau since you helped invent it up. This data base that he wants to shut down access to, how important is that.

WARREN: Oh, it's powerfully important and it is right there in the statute. The statute when we created the CFPB says that consumers can file complaints. So, just assume you get cheated out of $10 on your checking account and they put a charge in and you think it is wrong and they won't resolve it, or somebody won't give you back, you know, $15,000 down payment on your house, or your student loan servicer won't answer the phone or put you in the wrong programs, where do you go to fix any of that stuff?

And the answer is you could file a complaint with the Consumer Financial Protection Bureau. It is cfpb.gov and it's a little button for complaint. You fill out the information, the complaint goes in, and the consumer agency sends it on to the creditor you're complaining about.

And they get resolved. Not all of them. Not 100 percent of the time. But they're getting complaints resolved literally, hundreds of thousands of complaints that are getting resolved. So that's part one. Good for the consumer.

But part two, you know me, Jake. I'm somebody who wants to see markets work right. And the best way to make a market work right is to get information out there.

[16:20:01] So, you're trying to decide which bank to pick. You can right now go to cfpb.gov and go to the complaint section and you can see which banks get the most complaints, which ones are having the most trouble? The agency itself, others can look at it and say, wait a minute, I think there is a particular problem that's starting to emerge. What Mick Mulvaney wants to do is shut that down, or at least what he said he may do.

And in other words, protect the people who are out there cheating Americans, protect the people that kept your 10 bucks or your $11,000 or put you in the wrong student loan program, the CFPB is not there to protect those folks. It is there to protect the American people.

TAPPER: Senator, I want to ask you about other incidents today involving Trump cabinet officials, Attorney General Sessions wouldn't say during congressional testimony if he would resign if his deputy Rod Rosenstein or special counsel Robert Mueller was fired. What did you make of that? And do you have faith in Sessions to lead the Justice Department?

WARREN: Look, I -- I just don't know. I don't know what this means with any of these people. The whole notion that they are going to stand up for basic principles and tell this president that no one is above the law, not even the president of the United States, just seems to be vanishing among this current -- Jeff Sessions to his credit is the one who stood up who recused himself and has stayed in that A.G. spot. But I don't know.

I think that is exactly what he's telling the American people. Don't count on me if Donald Trump starts coming after people in the Department of Justice over this investigation. I think that is the reason that we need to pass a law over here in Congress to say that Donald Trump cannot fire the people who are investigating him. No one is above the law. Not even the president.

TAPPER: What do you make of the accusations against the president's nominee to be head of the V.A., Dr. and Admiral Ronny Jackson?

WARREN: Well, look, I'm very glad that Jon Tester and others are on this. You know, they want to do a thorough background check. Being the head of the V.A. is really important. But for me, the big issue is an issue around policy. It's who is going to be there to protect the independents of the V.A.

I don't want to see a V.A. that's privatized, and all three of my older brothers, military service and all three veterans. I get a very first-hand look at how important the Veterans Administration is to our veterans. We need to keep it funded. We need to keep it strong and we need to keep it independent and not privatized.

TAPPER: Senator Elizabeth Warren, Democrat of Massachusetts, thanks so much. Appreciate it.

WARREN: Thank you.

BREAK IN TRANSCRIPT

Source