It’s official: Elizabeth Warren is now the unofficial head of the new Consumer Financial Protection Bureau, and her passion for curttailing the banking industry’s shadier practices are as clear as ever. “The time for hiding tricks and traps in the fine print is over,” the consumer advocate and Harvard Law professor wrote in her inaugural blog post as Assistant to the President and Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau.
The long-winded title is the outgrowth of the Obama administration’s strategy to get Warren at the head of the agency without going through a Senate confirmation process. So far, it looks like that trick worked, although even some Warren’s supporters are eyeing the Senate’s subjugation with suspicion.
In her post, Warren says that Obama asked her to assume the role, and she “enthusiastically agreed.” Perhaps in a gesture at the administration’s belief that there is no time to waste in setting up the bureau, she concludes her announcement with a folksy imperative: “It’s time for all of us to pull up our socks and get to work.”
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