At a hearing held by the House Committee on Oversight and Government Reform today, the committee’s GOP leadership debated Elizabeth Warren, the White House’s pick to run the new Consumer Financial Protection Bureau. As the committee argued that new regulations are required to keep the watchdog agency from having “unchecked discretion” over financial matters, Warren responded that such efforts serve to “undermine the consumer bureau before it even begins its work of protecting American families.” [More]
unwarrented
Senate Republicans To Block Consumer Financial Protection Chief
By 5.6.11
Following their colleagues in the House, who earlier this week offered legislation that would weaken the powers of the planned Consumer Financial Protection Bureau, nearly all Republican Senators have sent a letter to President Obama vowing to block the confirmation of any nominee to head the new agency, unless there are “structural changes that will make the Bureau accountable to the American people.” [More]
