Judicial Watch claims emails show Elizabeth Warren already in power
Judicial Watch, a conservative nonprofit group that investigates matters involving the judiciary, released emails claiming they show Elizabeth Warren was directly involved in shaping the $25 billion mortgage servicer settlement proposed by state attorneys general.
The CFPB had no comment, but they have addressed similar allegations in the past, saying Warren only offered advice. In a letter to the House of Representatives, the CFPB previously described its role in the servicer settlement.
"We have provided advice to federal and state officials regarding a potential servicing settlement," CFBP officials wrote. "In doing so, we have been an active participant in inter-agency discussions, sharing our analysis and recommendations in support of a resolution that would hold accountable any servicers that violated the law."
But Judicial Watch has a different view of emails exchanges between the CFBP and attorneys general. After scouring communications between the two parties, Judicial Watch said CFPB emails show Warren functioning as the de facto director of the agency, playing a key role in settlement talks with mortgage servicers by communicating directly with state attorneys generals.
In one email sent to the New York Attorney General's office, a party claiming to represent Warren, wrote "Professor Warren was wondering if you would have any interest in chatting with her about regulatory reform or if we can be a resource in any way. The state AG offices have been very helpful with [CFPB]-related issues, and we'd love to talk to you about how you might be able to play a role or to see what questions you might have."
In its own statement, Judicial Watch said the emails obtained "seem to contradict Warren's statements before Congress suggesting her office responded to requests for advice, but did not seek to push its views."
While Warren supporters have been asking the president to appoint her director of the CFPB, critics of the bureau continue to look at Warren's present involvement in the agency as one that lacks appropriate regulatory oversight.
Another email from the Iowa AG's office cited by Judicial Watch includes a statement to all recipients saying, "Elizabeth Warren would like to present the CFPB's view on loan modifications to the entire EC."
Judicial Watch also posted an e-mail tied to the New York AG's office in which one party writes, "There is going to be a confidential briefing from the CFPB today. Based on my understanding of the briefing, I am inviting the loss mitigation subgroup to be on this call. The CFPB wanted me to stress the confidential nature of this briefing. I apologize for the short notice."
The CFPB officially launches July 21 and is still without a director. Even as Warren supporters continue to press for her appointment, rumors out of Washington focused on Raj Date, a former banking executive, who now works at the CFPB as Obama's possible top pick for the post.
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