Former CFPB Leader Warren Eyed for Senate Banking Seat

The Senator-elect credited with establishing the year-old Consumer Financial Protection Bureau soon see a seat on the Senate Banking Committee, according to a report from Bloomberg News.

Massachusetts Senator Elizabeth Warren, who formerly held a special advisory role to President Obama and led the CFPB from its inception, is poised for an open seat on the banking committee, unnamed sources told Bloomberg this week.

“Two Democratic aides briefed on the matter said Senate leaders intend to assign Warren to the Banking Committee, although a final decision on committee assignments won’t be made until the new session of Congress convenes,” Bloomberg writes. “The aides asked not to be named because assignments aren’t yet official.”

Warren is known for her work as a Democratic leader and Harvard Law professor. She advocated for the work of the CFPB before its Director, Richard Cordray, was appointed in early 2012.

Republicans opposed the CFPB’s leadership and nods for Warren to take the chief seat before she returned to Massachusetts for her Senatorial race.

Written by Elizabeth Ecker

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