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Lending / The Ticker

Report: Elizabeth Warren shoe-in for Senate Banking Committee

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U.S. Senator Elizabeth Warren, D-Mass., who is known for designing the Consumer Financial Protection Bureau, is likely to be selected to serve on the Senate Banking Committee, The Huffington Post reported Tuesday.

Apparently, four sources familiar with the matter shared this information with the online publication.

This will not be Sen. Warren's first foray in front of a Congressional committee that oversees lending and banking-related issues. More than a year ago, Sen. Warren faced an intense grilling from members of the House Oversight and Government Reform Subcommittees when lawmakers were challenging the structure of the consumer protection bureau and Warren's role in advising parties who worked on the multi-billion dollar mortgage servicing settlement (See video below).

Warren left the CFPB in 2011 and ended up running for her current U.S. Senate seat.

Early on, sources in Washington suggested Warren may go for a lower profile position, but The Huffington Post claims the Harvard Law professor is heading directly for the Senate Banking Committee. 

In such a role, Warren will have direct access to any challenges impacting the CFPB while serving on a committee where she has the potential to influence mortgage lending and servicing legislation.

To see Warren's 2011 testimony in front of the Senate Banking Committee, watch the video below.

 

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