Former CFPB Leader to Take a Seat on Senate Banking Committee

Credited with helping to launch the Consumer Financial Protection Bureau, Senator-elect Elizabeth Warren will take a seat on the Senate Banking Committee come 2013,” according to reports Wednesday. 

Long seen as a Wall Street critic, Warren served as a special White House Advisor during the launch of the CFPB, one government agency that oversees reverse mortgage lending and the implementation of the Dodd-Frank Act. 

She later returned to Massachusetts, where she won the senate seat over incumbent Republican Senator Scott Brown. 

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As for her work on the Senate Banking Committee, as a new member of the Senate she may be somewhat limited, according to reports. 

“Warren will be near the bottom of the totem pole in terms of Senate seniority, which will limit what she will be able to accomplish legislatively,” wrote CBS News political reporter Brian Montopoli. “But her position on the committee will boost her efforts to make the case that “the game is rigged” to put Wall Street and the wealthy ahead of the middle class.”

The Washington Post wrote of the news with the headline: “It’s on: Elizabeth Warren versus Wall Street.”

Written by Elizabeth Ecker