House Democrats urge Obama to make Warren CFPB director
Dozens of House Democrats urged President Obama to name Elizabeth Warren director of the Consumer Financial Protection Bureau in a letter sent to the White House Thursday. The letter, which was inked by House Financial Services Committee members Rep. Carolyn Maloney (D-NY), Rep. Brad Miller (D-N.C.) and Keith Ellison (D-Minn.), advised the President to name Warren to the post even if a recess appointment is required. Republican lawmakers managed to delay the potential for a recess appointment during the Memorial Week break, but the long drawn-out drama surrounding Elizabeth Warren is far from over. While Warren is often called the bureau's architect, her presence stokes powerful emotions on both sides. In a House subcommittee hearing last week, Warren faced accusations of lying from Rep. Patrick McHenry (R-N.C.). A short few days later, she was invited back to the Hill by Republican Darrell Issa (R-Calif.), chairman of the House Committee on Oversight and Government Reform. “Those who are blocking Elizabeth Warren from even being nominated are members of The Financial Crisis Never Happened Caucus,” Rep. Maloney said. “In her role as assistant to the president since September creating the CFPB, Mrs. Warren has shown her unique skills in traveling across the country and meeting with everyone to be affected by the new body: from bank executives to those with troubled mortgages." Critics of the Warren appointment and bureau have contended the regulatory agency lacks the appropriate congressional oversight and should not be steered by one director who will have influence over the entire mortgage finance space. Write to Kerri Panchuk.