Two months ago, Elizabeth Warren was on the defense during her first testimony before the House Financial Services Committee, responding to Republican rebuke towards the Consumer Financial Protection Bureau. Now, the two sides will once again face off when the House Oversight and Government Reform subcommittee welcomes Warren on Tuesday, May 24.
“The subcommittee, led by Rep. Patrick McHenry (R., N.C.), plans to discuss ‘ the oversight mechanisms’ of the consumer bureau,” reports Dow Jones.
GOP representatives claim the CFPB has too much regulatory authority and not enough congressional supervision. Warren counters that the agency does answer to various government groups and will be open with its rule-making processes.
Camden Fine, president and chief executive of the Independent Community Bankers of America, stated earlier this month that Elizabeth Warren has a “better than even chance” of being President Obama appointment for Consumer Financial Protection Bureau director.
“The President is considering a number of candidates for the position of director, but no decisions have been made and we will not comment on speculation about potential candidates before the President makes his decision,” said White House spokeswoman Amy Brundage in April.
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