President Barack Obama Wall Street critic Elizabeth Warren Special Adviser called on Friday and entrusted with setting up a new agency looking to consumers in dealing with banks, mortgage banks and other financial institutions.
Call Warren "one of the toughest of the country for SMEs", says Obama would ensure financial consumer protection Office to stop abusive practices.
"More and more people confused or deceived hardly understandable fine as pages found in arrangements for mortgages loans for students or credit cards," he said next to Warren and Treasury Secretary Timothy Geithner at the White House rose garden.
Obama accredited Warren, to develop the concept of the new agency for consumer and said, ", which only makes sense that you must be the architect."
Obama not to appoint Warren was Director of the Office without embargo.En in instead, he creates a role that can to avoid a long confirmation with the Republicans in the Senate as much criticism of Wall Street and the big bancos.El business will come and the banking community against Warren as Director struggle, argue that it would be Agency too aggressive.
Warren designed the Advisory had while long discussions with White House officials.
The Harvard Professor 61 years old can immediately take your tasks leader who put a team of officials of the Treasury already the basis for the mesa.Obama said Warren finally help to point to the agency head.
Bypass issues White House Press Secretary Robert Gibbs, whether Warren, even in the post of Director March, would be only to say "the President appoints Director and Elizabeth be instrumental in filling this position".
Regulation create financial Act, that is to run the authority of the Department of the Treasury Office, while the appointment of the Director is pendiente.La Office no rules, credit cards or to limit mortgage power writes until he accepts to other agencies
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