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.

Most Popular Articles

HomeStreet Bank fined for kickbacks to real estate agents, homebuilders

The FDIC announced Wednesday that it reached a settlement with HomeStreet Bank after an investigation found that HomeStreet had paid kickbacks to real estate agents and homebuilders in exchange for their mortgage business.

Nov 06, 2019 By

Latest Articles

Humanizing AI to improve the home buying journey

There’s no question AI and machine learning are having a transformational impact on the home buying and refinancing journey. And while the long-term reverberations of AI’s expanding role are fascinating and for some worrying, companies are realizing that marrying people with machine intelligence is the path to capitalize on AI’s potential. Artificial intelligence has generated […]

Nov 12, 2019 By