At the Democratic convention Elizabeth Warren, Massachusetts Senate candidate and pioneer of the Consumer Financial Protection Bureau, offered “the week's highest profile defense of the Dodd-Frank Act,” writes American Banker’s Kevin Wack.
"I had an idea for a consumer financial protection agency to stop the rip-offs," she said. "You know, the big banks sure didn't like it, and they marshaled one of the biggest lobbying forces on earth to destroy the agency before it ever saw the light of day." She then praised Obama for following through with the Dodd-Frank Act.
Her speech was part of an effort to counter the Republican charges that over-regulation from the Obama administration harming is the economy.
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