Senator-elect Elizabeth Warren Appointed to Senate Banking Committee

The Democratic Steering Committee
has approved the assignment of Senator-elect Elizabeth Warren, one of the most
vocal critics of the financial services sector, to the Senate Banking
Committee.  Warren previously led a
congressional oversight panel that criticized the government’s so-called “bank
bailout” in the wake of the financial crisis.  Warren was the driving force behind the creation of the new
Consumer Financial Protection Bureau, an agency created by the Dodd-Frank
financial system overhaul.  Her
potential appointment to head the Bureau, however, drew strong objections from
Senate Republicans.  When the
appointment went to former Ohio attorney general Richard Cordray, Warren instead
successfully challenged incumbent Senator Scott Brown’s reelection.

Warren has been a vocal critic of
Wall Street financial firms and large banks, and is expected to oppose any
efforts to dilute or weaken the reforms and restrictions contained in the
Dodd-Frank financial system legislation enacted in the wake of the financial
crisis.  She will also have a
platform to forcefully influence financial regulators’ interpretation and enforcement
of rules and regulations applied to financial services firms. 

“America’s middle-class has been squeezed hard, and there’s a lot we can
do to level the playing field for families,” Warren said in a statement issued
Wednesday.The Democratic Steering Committee has approved the assignment of Senator-elect Elizabeth Warren, one of the most vocal critics of the financial services sector, to the Senate Banking Committee.

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Ryan M. Cunningham

Licensed since 2004

Member at firm Fitch Law Partners LLP

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Ryan M. Cunningham

Licensed since 2004

Member at firm Fitch Law Partners LLP

RECENT POSTS

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    The 7th U.S. Circuit Court of Appeals has held that borrowers are not assured of conditions that would allow them to rescind a home mortgage loan pursuant to the federal Truth in Lending Act ("TILA"), 15 U.S.C. 1601 et seq., and that a court can condition rescission of the loan on the borrowers’ tender of ... Read more

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