Monday, July 18, 2011

Elizabeth Warren: "A Big Week for the New Consumer Agency"

Elizabeth Warren (HuffPo):
This is a big week for the Consumer Financial Protection Bureau (CFPB). Today, the President will announce his intent to nominate Richard Cordray to serve as the first Director of the Consumer Financial Protection Bureau. On Thursday, the CFPB makes its transition from a start-up to a real, live agency with the authority to write rules and to supervise the activities of America's largest banks.

Rich will be a strong leader for this agency. He has a proven track record of fighting for families during his time as head of the CFPB enforcement division, as Attorney General of Ohio, and throughout his career. He was one of the first senior executives I recruited for the agency, and his hard work and deep commitment make it clear he can make many important contributions in leading it. Rich is smart, he is tough, and he will make a stellar Director. I am very pleased for him and very pleased for the CFPB. MORE...
Howie P.S.: Ari Melber Tweets that "the White House is circulating this new piece by Warren." Greg Sargent passes this along:
as Paul Krugman notes,
Republicans are equally committed to blocking his appointment: What’s going to happen, then, is no director for the CFPB in any case. But meanwhile Obama has passed up a chance to symbolically align himself with the public and against the banksters."

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