Elizabeth Warren may be glad she didn’t end up running the Consumer Financial Protection Bureau, because in her consolation job as a U.S. senator, she gets to openly speak her mind about it.
And speak her mind she did at Tuesday’s Senate Banking Committee hearing on the nominations of Richard Cordray to head the CFPB and Mary Jo White to head the Securities and Exchange Commission. Sen. Warren (D-Mass.) had no questions for Cordray, noting he had already testified before the panel a dozen times. Instead, she blasted a series of questions at the Senate Republicans holding Cordray’s nomination hostage while they try to weaken the new agency’s power, and wrapped up with a rebuke:
“I see nothing here but a filibuster threat against Director Cordray as an attempt to weaken the consumer agency,” Warren said. “I think the delay in getting him confirmed is bad for consumers, it’s bad for small banks, bad for credit unions, for anyone trying to offer an honest product in an honest market.”
“The American people deserve a Congress that worries less about helping big banks,” she added, “and more about helping regular people who have been cheated on mortgages, on credit cards, on student loans and on credit reports.”
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