Former Consumer Product Safety Commission head Ann Brown debunked claims that Elizabeth Warren lacks the “administrative experience” to run the new CFPB in a recent Politico article. Click here to read the full article.
Warren has a top-rate intellect and, expertise in consumer credit products and bankruptcy laws. She is widely perceived as someone with credibility and independence. She has worked with both Republican and Democratic offices on Capitol Hill.
She has also demonstrated a firm understanding of the financial markets through her role as chairwoman of the TARP Congressional Oversight Panel. She has managed a staff, navigated the corridors of power and learned how to be an effective Washington player.
She also is the visionary who first thought of the consumer financial board, and she knows it like the back of her hand — just like I had known the CPSC. She has spent years thinking and learning about consumer credit issues, building relationships with knowledgeable people inside and outside of industry and developing skill sets that are likely to serve her well.
Warren is a dedicated teacher and skillful in making complicated issues seem simple. Her background in teaching and in personal finance – she has written whole books on the subject – make her uniquely qualified to run this new office of financial literacy.
What’s more, with Warren’s visibility, the new agency will stay in the center of public attention and could well become the public face of Wall Street reform.