Warren Will Receive Banking Committee Perch
Posted at 9:30 a.m. on Dec. 5, 2012
Sen.-elect Elizabeth Warren (D-MA), who first proposed and later established the Consumer Financial Protection Bureau, will receive a coveted spot on the Senate Banking Committee when the new Congress convenes in January, according to Politico.
“While Warren’s rhetoric on the campaign trail scorched Wall Street, she had a much more cordial relationship with the banking industry while she was setting up the consumer bureau for the Obama administration between July 2010 and August 2011.”
“Consumer advocates said they expected Warren to champion their top priority for next session on the Banking Committee: defending the CFPB. Republicans have balked at the CFPB’s structure, arguing the bureau should be dependent on Congress for its funding, an arrangement that would allow Congress more influence over its activities.”