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Tag Archives: Elizabeth Warren

Report: Elizabeth Warren Selected for Senate Banking Committee

A month before her swearing-in, Senator-elect Elizabeth Warren (D-Massachusetts) is already making waves in Washington. The Huffington Post reports Warren has been selected to fill a soon-to-be-open seat on the Senate Banking Committee. The position is just the latest in a string of regulatory oversight roles for Warren, who has built a political career out of being "a tough cop on the beat for Wall Street."

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Two Years in Review for the CFPB and Dodd-Frank

Financial reform advocates have two birthdays to celebrate on Saturday. This weekend marks the one-year anniversary of the watchdog Consumer Financial Protection Bureau and the two-year anniversary of the Dodd-Frank Act, the sweeping financial reform law that spawned it. Their stories run parallel to each other ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and rightly so. The consumer bureau squeaked past partisan gridlock this time last year, just one year after Democrats, then in the majority of both houses of Congress, cleared Dodd-Frank for the president├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós signature.

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Cordray Defends CFPB at First Congressional Hearing

An awkward and slightly tense air greeted Consumer Financial Protection Bureau director Richard Cordray at his first congressional hearing Tuesday, where the new appointee cast his agency as one that would strive to reduce duplication and increase transparency. Although careful in their approach to the new director, Republican committee members frequently cited their concerns about federal overreach, the constitutionality of his recess appointment, and interests for transparency. The CFPB can now supervise nonbank financial entities.

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Obama Officials Up the Ante to Get CFPB Director

Officials with the White House and Consumer Financial Protection Bureau continue to press critics of the bureau to confirm Richard Cordray as director, notably fronting the wife of Central Intelligence Agency Director Ret. Gen. David Petraeus Thursday. Speaking before the Senate Banking Committee, CFPB Assistant Director Holly Petraeus addressed concerns about the housing market and the effects on service members and their families, ascribing increased hardship to declining home values and difficulties in home sales.

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Debate Still Rages Over CFPB After First 100 Days

The feud between lawmakers over the Consumer Financial Protection Bureau dragged on Wednesday, as de facto acting director Raj Date defended the struggling agency to Republican House members and the role of the Dodd-Frank Act in financial regulation. Republicans advanced their critiques by highlighting the apparent power of the CFPB director and more compliance workload for financial institutions. Democratic lawmakers played their part by praising the bureau. At other times lawmakers ratcheted up the rhetoric.

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Obama Picks Galante for FHA Chief Amid Partisanship

President Barack Obama fielded HUD official Carol Galante as a new nominee to head up the Federal Housing Administration, even as the future for other federal nominees remains unclear. The White House announced the decision in a statement in which the president offered new names for other posts. It remains uncertain whether any of the current partisan wrangling over other nominees will impact the confirmation process for Galante. Also in line for his confirmation: Consumer Financial Protection Bureau director-nominee Richard Cordray.

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CFPB Undaunted Nearly Two Months After Going Live

If recent remarks by Treasury adviser Raj Date signal anything, the Consumer Financial Protection Bureau means to press forward with the responsibilities enshrined for it under the Dodd-Frank Act. The CFPB holdover, who filled the shoes of Elizabeth Warren, now a Senate candidate, explored events in the lead-up to the controversial bureau even as an unwavering Republican opposition holds the line. Assuming responsibility for 18 consumer financial laws, the CFPB has moved forward with rules and proposals.

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