Elizabeth Warren Under Consideration For Interim CFPB Chief (updated)

[ProSense]

Ryan Grim

Elizabeth Warren Under Consideration For Interim CFPB Chief

The White House is considering tapping Harvard professor and consumer advocate Elizabeth Warren to be the interim director of the Consumer Financial Protection Bureau, a source familiar with the White House deliberations told HuffPost.

Such a move would allow Warren to begin setting up the agency immediately and prevent the GOP from filibustering her nomination. She could serve until Obama nominates a permanent director -- a nomination he's not required to make, meaning that Warren would be able to serve indefinitely with the full powers of the director.

Obama could also name Warren as the permanent director following an interim appointment, which would give the Senate an opportunity to debate her selection.

The ability of the administration to nominate an acting director indefinitely, avoiding a lengthy confirmation battle, was first reported by HuffPost's Shahien Nasiripour in July. American Banker is also reporting that Warren is under consideration for the interim position.

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Too sweet!


Updated to add this from the WSJ: White House Mulls Interim Role for Elizabeth Warren at Consumer Agency

WASHINGTON—The White House is considering appointing Harvard Law School Professor Elizabeth Warren to an interim role to help set up a new Bureau of Consumer Financial Protection, people familiar with the matter said, a move that would give Ms. Warren a role at the agency without having to go through what would likely be a tough Senate confirmation battle.

No decision has been made, however, and it's possible the White House could either appoint her to the job permanently or pick someone else to run the agency, these people said.

<...>

The CFPB, as it is known, was created to police mortgage and credit card lending and would have broad powers to examine the country's largest banks. Many Republicans opposed the agency's creation, arguing that it could lead to a contraction of credit across the country.

A White House spokeswoman said: "Elizabeth Warren has been a stalwart voice for American consumers and families and she was the architect of the idea that became the Consumer Financial Protection Bureau. The President will have more to say about the agency and its mission soon."

<...>

Republicans opposed it, now they want a say in who runs it.

[Pirate Smile]

1. I was thinking this would drop sometime this week.

[Kdillard]

2. That would be sweet. She could serve as long as she wants and the GOP would just have to stuff it.

[karynnj]

3. Great news - it would really do a lot for Democrats to be able to say that

the reform is real.

[tularetom]

4. So if he could make this appointment without asking congress

Why the fuck hasn't he done it already?

Something doesn't smell right about this.

[ProSense]

5. Actually, everything smells perfect

The law specifically gives the President the power to appoint an interim head of the bureau.

[tularetom]

9. IIRC that law has been in effect for a couple of months

She could have been on the job for a month already.

So again i'll ask why hasn't he made the appointment yet.

[ProSense]

11. "So again i'll ask why hasn't he made the appointment yet."

Ask the President. Still, it's hard for me to get why this matters as long as she is appointed? The agency is still in the discussion stage relative to being set up.

[Lorien]

12. He rammed Bernake's appointment through even with protests

it's clear that he's not eager to put Warren on the job.

[ProSense]

13. Rammed? Did he appoint Bernanke by recess appointment?

Bernanke was nominated in August 2009 and confirmed in January 2010 to head an agency that has been around for more than 100 years.

[Doctor_J]

6. Hasn't she been "under consideration" for 6 months?

:wtf:

[ProSense]

7. The law is seven weeks old, but

this deserves a WTF?

[Doctor_J]

16. Yes, WTF is with all of the hints, trial balloons, feelers, etc.

Just do it for once, because it's the right thing to do

[jenmito]

8. K&R! Maybe they're doing this to energize us at the right time. n/t

[Cal33]

10. It would be great if she gets the job.

[Cha]

14. They have to try a lot of different things to get around

the gNOps who live to suck.

[mucifer]

15. Hope this will really happen!

[mkultra]

17. she fucking rocks

her brilliance is undeniable.