After the Senate's confirmation of Richard Cordray as director of the Consumer Financial Protection Bureau, Massachusetts Sen. Elizabeth Warren applauded the decision at an event celebrating the bureau's second anniversary.
Warren, who conceived of the idea of the agency and later helped kick-start it, said in a prepared statement, "This is the week when we can say loudly, clearly, and with confidence: the consumer agency is the law of the land, and it is here to stay."
But she said this is not the time for the agency to rest on its laurels.
"There's still a lot of work to be done, and so long as the CFPB sides with American families over large financial institutions, there will be forces looking to undo its work and to strip away its powers," she added.
For the full piece see "'David Beat Goliath,' Warren Says on CFPB Anniversary" (may require subscription).