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The bank takes your home. you haven't missed a payment. if you did that to your neighbor, you go to jail for stealing their home. you can't just take people's property for no reason, right? 20 times this happened. this is all servicers. and the servicers' rules, cfbp, i have a lot of admiration, they look weak. they look like they're not up to the task. and it prompts the question, if the cfpb can't get good rules in place for servicers, who have been one of the most toss toxic aspects, what hope do question have for the rest of dodd/frank? >> on servicing, let me point out two things. one, i ...

>> seems in some ways that's a intervention for you. no one's going to pay any attention to that letter but it's going to have some effect and curry some favor with the group. >> absolutely. look, the group louses it to sa the hill is upset, here's what they say. i passed a law. the agency said to me on trailers one time, they said, that's not what ney meant. no it wasn't. yes, it it was. so, it can work in reverse. >> you've been in the regulatory process. are you looking over your shoulder about what the hill is going to do or concerns by members of congress? >> i was at consumer financial p...

Funds work for american businesses. why risk changing them now? and this is a way of essentially work the refs on the regulatory process. my question is, given regulatory process by barney frank to get it to pass and given the stats at the beginning about deadlines that have been missed, do you think the process is unfolding encouragingly? was that the right thing to do? there are some that say they should have just broken up the banks. >> broadly speaking, i think that the rule-making across dodd/frank are behind where most people want to see them, in terms of level of development. look, i'm ...

Influenced by interests groups. deepak? >> because that's how it works. maybe not all the time but we saw, for example, when the president used his regulatory authority to give freedom to a million dream act kids, which was a use of regulatory power that changed a million people's' lives and have huge potential. when food inspection actually occurs, we're safd from getting sick. the problem isn't we have too much regulation. the problem is enforcement -- we have to fix corruption of the process but we -- >> i want to talk about different bites of apple people opposed to regulation. (music t) w...