Speaking on MSNBC yesterday night, Rep. Barney Frank (D-Mass.) pushed for the Obama administration to choose Elizabeth Warren — a Harvard Law professor and the current head of the Congressional Oversight Panel over the Troubled Asset Relief Program — as the head of the new Consumer Financial Protection Bureau. More…
Today, more stories are adding detail to the debate over whether Elizabeth Warren should become the first head of the Consumer Financial Protection Bureau.
The discussion kicked off after the final passage of the Dodd-Frank financial regulatory reform bill, which will become law when President Obama signs it tomorrow. More…
The head of the consumer financial protection agency will have authority over a far-reaching and uniquely powerful new government agency — able to make and enforce rules regarding just about every consumer financial product save, sadly, for car loans made by auto dealers. It is a powerful gig, controlling More…
At the Huffington Post, Ryan Grim reports that Sen. Tom Harkin (D-Iowa) and Rep. Greg Meeks (D-N.Y.) are attempting to insert an insurer-friendly change into the conference committee’s version of financial regulatory reform. “The measure would exempt securities products created by insurance companies from regulation, leaving the job More…
By all accounts, Sen. Kay Hagan’s (D-N.C.) amendment to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill was an excellent one. The first-term senator had a long-standing reputation in her home state for fighting payday lending, the $42 billion a year industry that offers easy-to-get short-term loans in exchange for More…
The Senate just voted to recommend that its conferees working to reconcile the House and Senate financial regulatory reform bills include Sen. Sam Brownback’s (R-Kans.) language exempting auto dealers that make loans from Consumer Financial Protection Agency oversight. The nonbinding motion was agreed to by a surprisingly high margin, 60 More…
Rep. Barney Frank (D-Mass.) will head the conference committee charged with reconciling the House and Senate versions of financial regulatory reform. The committee is comprised of legislators who worked on the initial bills, from the Senate Banking Committee, House Financial Services Committee and Senate Agriculture committee. The Senate might name More…
Last week, the Senate passed a sweeping overhaul of the regulation of banks and financial institutions. The bill, authored by Sen. Chris Dodd (D-Conn.), does not just focus on Wall Street firms, changing leverage limits and capital requirements. It focuses on Main Street banks and lenders as well. The bill More…
The House and Senate have each passed versions of financial regulatory reform, and it will be up to a conference committee comprised of members of both bodies to create a unified bill. On some fronts, the House and Senate bills aren’t far apart. On others, there’s significant daylight between them. More…
With a cloture vote to open formal debate on Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill scheduled for 5 p.m. this evening, Senate Democrats spent the weekend negotiating with Republicans likely to support the bill, including Maine Sen. Olympia Snowe.
It seems that Democrats do not yet have More…
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