The new federal agency charged with regulating U.S. consumer financial services will have at least some rules in place by early 2012, according to the White House adviser helping to set up the regulator. Get the full story »
Inside these posts: Elizabeth Warren
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Warren vs. Dimon on financial regulation
Elizabeth Warren, left, and Jamie Dimon. (AP Photo/Manuel Balce Ceneta; Simon Dawson/Bloomberg)
Elizabeth Warren, the Obama administration’s defender of financial consumers, will venture into the corporate lion’s den this week, along with Jamie Dimon, CEO of banking giant JPMorgan Chase & Co.
The two will be speakers at an event set for Wednesday at the U.S. Chamber of Commerce, the country’s largest business lobbying group, in its Corinthian-columned headquarters situated within view of the White House.
Feb. 24 at 2:36 p.m.
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Filed under: Banking, Credit Cards, Government, Politics, Regulations Czar amazed by threats to nascent consumer agency
Elizabeth Warren, the point person creating an agency to protect consumers of financial products, said she was surprised there are efforts afoot in Congress to kill or disable the agency before it’s born.
Warren, in Chicago for a speech at Northwestern University, told the Tribune in an interview Thursday that it’s crucial the agency is created and that its funding remain independent from the political process. She also held an olive branch to community banks and credit unions wary of more regulation. Get the full story »
Elizabeth Warren confident after investor meetings
White House adviser Elizabeth Warren said her meetings with investors and bank executives are going well, helping to give the financial industry a better sense of the new Consumer Financial Protection Bureau’s direction and priorities.
“I have really been on the road,” Warren told CNBC, noting that she’s been traveling the country meeting with community bankers, consumer advocates, chief executives of the largest financial firms and buy-side investors. Warren said she has discussed the agency’s approach to regulation and outlined its likely first steps “to make it really clear where we’re headed.” Get the full story »
Consumer czar: Financial industry still aims to block
The financial industry continues trying to thwart the Obama administration’s effort to set up an effective consumer protection agency, though one is needed now more than ever, new consumer czar Elizabeth Warren charged on Thursday.
“We fought hard to get here, and those who tried to block the agency’s creation have already said that they will be back,” Warren said in remarks prepared for delivery at the University of California in Berkeley,
“Every day, they spend money to find a way to cut back the agency’s power — even before its work has begun,” she added. A text of her remarks was issued in advance in Washington. Get the full story »
Obama chooses Warren to launch consumer bureau
President Barack Obama and Elizabeth Warren on Sept. 17, 2010. (AP Photo/Susan Walsh)
Harvard law professor Elizabeth Warren, appointed Friday to launch the new Consumer Financial Protection Bureau, likely won’t be the agency’s first official director, but she will have a major say in who gets the powerful job.
Warren also will have a broader portfolio of duties, advising President Obama on “policies and programs that are designed to protect the financial interests of middle-class families,” the White House said.
Head of consumer agency promises to be ‘tough cop’
Elizabeth Warren, Obama's choice to head new U.S. consumer agency. (AP)
The Harvard professor President Barack Obama is putting in charge of a new consumer protection agency says people need a “tough cop on the beat” to protect them from financial industry abuses.
Obama was naming Elizabeth Warren on Friday as a special adviser to both him and Treasury Secretary Timothy Geithner. The financial regulatory bill Obama signed into law this year created the bureau to be an advocate for consumers in their dealings with banks, mortgage companies and other financial institutions.
