The Bank Lobby Steps Up Its Attack on Elizabeth Warren

Ari Berman (The Nation)

June 1, 2011

“On May 24 Elizabeth Warren was back on Capitol Hill testifying before Congress, defending her brainchild, the new Consumer Financial Protection Bureau, a key element of the 2010 Dodd-Frank financial reform legislation. Warren is a major celebrity in Washington, an Oklahoma-born Harvard law professor who’s done more than anyone since Ralph Nader to put consumer protection on the national agenda. The room was packed with reporters, consumer advocates and lobbyists. GOP Representative Patrick McHenry, who chaired the House Committee on Oversight and Government Reform hearing, could barely hide his disgust for the CFPB and Warren, accusing her of lying to Congress and frequently interrupting her answers. ‘In a few short weeks,’ McHenry warned ominously, ‘the bureau will become a powerful instrument in the hands of progressive regulators.’” (With quotes from US PIRG’s Ed Mierzwinski and AFR’s Lisa Donner) Click here for more.