elizabeth warren

Well, this should come as no surprise: Financial industry groups already are gearing up to fend off a proposed Consumer Financial Protection Agency that would regulate mortgages, credit cards, and other kinds of consumer lending. The idea was a key part of the financial system overhaul that President Obama outlined on Wednesday.
Although Obama called for [...]

One of the ideas for financial regulatory reform that President Barack Obama will outline today is the creation of a new Consumer Financial Protection Agency, modeled after a proposal from Troubled Asset Relief Program watchdog Elizabeth Warren for a Financial Products Safety Comission. As The Washington Post explains, this would be a new federal agency [...]

The Obama administration is considering stripping the Securities and Exchange Commission of some its oversight powers, and shifting that responsibility to the Federal Reserve, Bloomberg reports.
The proposal, still being drafted, is likely to give the Federal Reserve more authority to supervise financial firms deemed too big to fail. The Fed may inherit some SEC functions, [...]

James Scurlock, director of “Maxed Out,” a groundbreaking documentary on consumer debt, steps up to defend TARP oversight panel head Elizabeth Warren today in The Big Money. Scurlock says that “no one grasps the true nature of our hard times” better than Warren, a longtime scholar of consumer debt and bankruptcy.

Treasury Secretary Tim Geithner appeared on Capitol Hill this morning, testifying for the first time before the congressional oversight panel created to monitor the Wall Street rescue plan. He didn’t have an easy time of things, getting grilled from the panel’s liberals and conservatives alike over things like rising foreclosures and the shift in government [...]

The Troubled Asset Relief Program’s inspector general, Neil Barofsky is out with a scathing report today, contending the program already is marred by tax and securities fraud, insider trading, and other violations. Barofsky has opened 20 separate criminal probes into the alleged violations – and that’s just for starters,  The Los Angeles Times reports.
The cases [...]

Even before she poses her first question to Treasury Secretary Timothy Geithner when he testifies before her panel for the first time today, expect Troubled Asset Relief Program oversight head Elizabeth Warren to come under fire. That’s because conservatives have been gunning for Warren, who was an outspoken advocate for consumers before she became chair [...]

This should have happened a long time ago: Banks that received government bailout money and  continue to charge consumers excessive fees on credit cards and other services are getting a second look, The Wall Street Journal reports.
The committee overseeing federal banking-bailout programs is investigating the lending practices of institutions that received public funds, following a [...]

Secretary of Treasury Timothy Geithner’s credibility problems aren’t going away.
Elizabeth Warren, chief of congressional oversight panel for the Troubled Asset Relief Program (TARP), testified today that she still had not received any explanation of what TWI’s Mike Lillis called “Treasury’s $80 billion mistake” back on Feb. 6. In a statement submitted to the Senate [...]

Playing off of our story today on yesterday’s TARP oversight hearing, here’s a fascinating exchange between Sen. Richard Shelby (Ala.), the highest ranking member of the Senate Banking Committee, and Elizabeth Warren, who chairs the congressional TARP oversight panel. Prior to this snippet, Warren just told lawmakers that Treasury officials didn’t use risk-adjustment mechanisms when [...]