The Consumer Financial Protection Agency has gotten one step closer to a reality, with Harvard law professor Elizabeth Warren being named a special advisor to President Obama, focusing on the agency’s creation.

Once the CFPA is finally set up, Obama has said he plans to nominate Warren to be the agency’s director, which may result in a confirmation hearing worth watching.

According to the Wall Street Journal, Warren will be named an assistant to the president and special advisor to Treasury Secretary Timothy Geithner in charge of launching the new agency and setting its mission.

In this new position, Warren will be responsible for recruiting agency staff, setting the policy mission and serving as the CFPA’s public face.

Ms. Warren (at Last!) Goes to Washington [WSJ]
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