White House faces dilemma over consumer protection bureau

09/15/2010 | Washington Post, The

The Obama administration is struggling with how to get Elizabeth Warren, the controversial Harvard law professor, involved in the creation of the Consumer Financial Protection Bureau. Administration officials have been considering their options, including making Warren director of the agency on a temporary basis. The move would allow Warren to be involved with the development of the bureau while avoiding what is expected to be a difficult Senate confirmation process. The idea is facing resistance from lawmakers, who say Warren needs to go through the confirmation process. "The director, interim or otherwise, of the Consumer Financial Protection Bureau ought to be confirmed by the U.S. Senate. ... Circumventing this process is an ill-advised first step," CBA President Richard Hunt said in a statement.

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