Washington DC – Oregon’s Senator Jeff Merkley released the following statement after the news of Elizabeth Warren’s pending appointment to head the effort to get the Consumer Financial Protection Bureau established:
“There isn’t a candidate more fit to get the new Consumer Financial Protection Agency up and running than Elizabeth Warren. She has been a tireless advocate for financial fairness for working families and was the driving force behind the creation of the new Consumer Financial Protection Bureau.
“While this is good news for American families, it is my hope that President Obama will nominate Warren to a permanent position to head up the CFPB. She is more than deserving of the job and the Senate should have the opportunity to confirm one of the nation’s strongest consumer advocates.
“The CFPB has been tasked by Congress with reining in the abuses by payday loan firms, credit card companies and predatory mortgage lenders that have stripped families of their hard-earned wealth and were a key cause of the recent financial crisis and recession. Clearly, the new bureau has a big job to do, and Elizabeth Warren is the right person to do it. She will put the interests of ordinary Americans first and ensure that our nation’s financial products are safe for working families and small businesses.”