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Friday, April 15, 2011

Yes! Elizabeth Warren!

[Apparently potential nominees are reluctant to undercut the idea of Warren leadership of the CFPB: Great! Appoint her!]

Joan McCarter, Daily Kos
White House finding few takers for CFPB chief job

"Elizabeth Warren might end up being the nominee to be permanent head of the Consumer Financial Protection Bureau, as the White House can't find anyone willing to take the job. Warren has been spearheading the effort to get the new agency up and running, but is generally not expected to be Obama's permanent nominee because of strong congressional opposition to her, specifically.

"White House officials seeking someone to run the Consumer Financial Protection Bureau have so far failed to find a nominee, with several candidates rebuffing the administration's overtures, according to people familiar with the process.

"One concern of some: That accepting would undercut Elizabeth Warren, the Harvard law professor and consumer advocate who is currently a special adviser to the president charged with setting up the bureau. She remains a hugely popular figure among many Democrats and anathema to many Republicans.

"Many on the left want Ms. Warren, a longtime critic of the financial industry who pushed to create the consumer protection agency, to become its director.

"The nascent bureau must have a director in place by July 21 in order to get a slate of broad powers to attack fraudulent and abusive financial practices....

"A White House spokeswoman said Mr. Obama 'will consider a number of candidates for the position of director. The President believes Elizabeth Warren is a powerful voice for American consumers and that she has been extraordinarily effective at standing up the agency thus far. We are not going to get ahead of the President's process by commenting on whether specific individuals are under consideration for specific personnel openings.'

"Ms. Warren, through a spokeswoman, declined to comment.

"Another issue for potential candidates must be the unrelenting efforts of the GOP to dismantle the CFPB, since they have lined up on the side of fraudulent and abusive financial practices against consumers. It's not hard to imagine that few people would want to become the new target in place of Warren, in addition to an unwillingness to try to fill her shoes."

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