Jeff Sovern, a professor at St. John’s University School of Law and co-coordinator of the Consumer Law and Policy Blog, argues in favor of Elizabeth Warren to lead the CFPB.  Click here to read his full article in The Hill.

But the president should not nominate someone who reflexively opposes banks without considering whether particular rules will aid consumers. We already have too many consumer protection laws that fail consumers, like the rules that required subprime lenders to give borrowers the wrong monthly payment figures for their loans (not that it mattered much, since the same rules did not oblige the lenders to provide the figures until so late in the process that borrowers didn’t use them). The new CFPB director should make judgments rooted in empirical research showing that its actions will help consumers.

Not by coincidence, those traits describe Elizabeth Warren.  One of the many things she is known for is the empirical research which inspires her positions.