New Consumer Czar Elizabeth Warren To Address NAFCU Conference

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WASHINGTON – NAFCU said consumer advocate Elizabeth Warren, named Friday by President Obama to organize the new Bureau of Consumer Financial Protection, will speak to the group’s annual Congressional Caucus, in her first address since the presidential appointment.

Warren, a Harvard law professor and longtime foe of the credit union-backed bankruptcy reform bill, is expected to discuss her vision for the new agency, which was based on her ideas.

Warren, who is opposed by Republicans in Congress, was appointed as advisor to the Treasury Department, which is creating the new agency to be housed inside the Federal Reserve, in order to skirt the Senate confirmation process, as most observers expect the Republicans to block her if she were nominated as director of the agency. Under the new presidential appointment, Warren will be able to shape the agency and set its agenda without being exposed to the nomination process.

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