Obama May Name Elizabeth Warren as Interim Head of Consumer Agency

President Barack Obama may appoint Elizabeth Warren as the interim head of the new consumer protection bureau, avoiding a possibly contentious Senate confirmation. The White House is exploring ways that Warren could run the bureau without having to go through a confirmation battle, The New York Times reported without naming its sources.

Warren is the front-runner to head the new bureau, which will have power to enforce regulations covering financial products including mortgages and credit cards. She's the firm favorite of consumer-advocate groups but has little support within the financial community.

Obama could name Warren using a recess appointment, though that would only last until the end of 2011.

White House spokeswoman Amy Brundage declined to comment on the possibility of a temporary appointment for Warren.

Increase your money and finance knowledge from home

What is Short Selling?

Make a profit when stocks prices fall.

View Course »

Finding Stock Ideas

Learn to do your research and find investments.

View Course »

Add a Comment

*0 / 3000 Character Maximum


Filter by:

I could not be more pleased to see Elizabeth Warren appointed. At last we have a knowledgeable and intelligent person overseeing banking practices. If someone of her stature had been there to stop their abuses 2 years ago, the debacle in the financial industry and its damage to the economy might have been avoided. Now I can only hope that the banks will cooperate to get our financial house in order.

September 17 2010 at 3:13 PM Report abuse rate up rate down Reply

If Elizabeth Warren gets the job of running the new consumer protection agency President Obama will have made the best choice of his career and made a lasting contribution to protecting citizens from rapaceous corporations.

September 14 2010 at 3:29 PM Report abuse rate up rate down Reply

With him its anyway around the system of our laws. He has no respect for them our the american people.

September 14 2010 at 10:28 AM Report abuse rate up rate down Reply