The last time Washington saw Elizabeth Warren, she was thrown out of town for her strong advocacy of the Consumer Financial Protection Bureau. The Dodd–Frank Wall Street Reform and Consumer Protection Act established the CFPB. Warren is credited with creating the CFPB, tirelesslessy lobbying for its inclusion in Dodd-Frank, and worked on implementation of the bureau as a Special Assistant to the President in anticipation of taking over as director. However, Warren was seen as overly aggressive in pursuing regulations, and was not nominated for the position.
Last night, she grabbed a Massachusetts Senate seat away from Scott Brown and will be returning to Washington as a US Senator.
The next test will be her Senate assignment. Will Senate leaders dare to give her a seat on the Senate Banking Committee? Will she be the one grilling the head of the Consumer Financial Protection Bureau?
Sources:
- The Woman Who Knew Too Much by Suzanna Andrews in Vanity Fair
- An Agency Builder, but Not Yet Its Leader by Edward Hyatt in the New York Times
- Behind Consumer Agency Idea, a Tireless Advocate by Jodi Kantor in the New York Times
- Holding the CFPB Accountable: Review of the Semi-Annual Report to Congress (video)