Elizabeth Warren and the Consumer Financial Protection Bureau
President Barack Obama’s “Consumer Czar” Elizabeth Warren was appointed by Obama to help set up and, many fear, to eventually run the new Consumer Financial Protection Bureau (CFPB). In March 2011, Warren testified to Congress about the CFPB’s role in a 50-state settlement underway with the nation’s largest mortgage lenders related to alleged improper foreclosure procedures.
Through the Freedom of Information Act (FOIA) and the open records laws of the states, Judicial Watch obtained documents that show that Warren’s and the CFPB’s involvement in the mortgage settlement negotiations is much greater than she told Congress. Following the release of these documents, the House Financial Services Committee and the Oversight and Government Reform Committee sent a letter to Department of the Treasury Secretary Timothy Geithner requesting more documents regarding the mortgage settlement.