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Elizabeth Warren pays another visit to White House

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Elizabeth Warren slipped quietly into Washington on Tuesday to talk with President Obama about the possibility of leading the new Bureau of Consumer Financial Protection, according to people familiar with the meeting.

An administration official, who spoke on the condition of anonymity because the visit had not been publicized, acknowledged that Warren met with Obama but noted Wednesday that the president is still considering multiple candidates for the job.

Other contenders indeed have emerged - namely Assistant Treasury Secretary Michael S. Barr - but Warren is easily the most high-profile and most polarizing among them.

The financial overhaul bill signed into law in July gives Obama the authority to appoint a director of the new consumer bureau to a five-year term, subject to Senate confirmation. The agency will have the power to write and enforce rules governing credit cards, mortgages and other loans.

Warren met about the position last month with top Obama advisers Valerie Jarrett and David Axelrod. She again fueled speculation last week when she pulled out of a law class she was scheduled to teach this fall at Harvard.

Warren had not been expected back in the nation's capital until later this month, when the Congressional Oversight Panel, which she chairs, will release its latest report on the government's $700 billion bailout fund.

A White House official confirmed Warren's visit Tuesday but did not elaborate on the substance of the talks.

"Elizabeth Warren is a respected advocate and she was meeting at the White House," said spokeswoman Amy Brundage said, "but no decision has been made about the consumer agency."

Obama spokesman Robert Gibbs said Tuesday that he knew of no imminent plan to name a bureau chief, but added, "I can't rule out that at some point that may come during the week."

A spokesman for Warren declined to comment.

By Brady Dennis  |  September 9, 2010; 8:04 AM ET
Categories:  Consumer Financial Protection Bureau  
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Comments

Mr. President, why don't you address mortgage fraud which caused billions of dollors loss for the Americans? Why not hold Wells Fargo accountable for making mortgage loan based on hugely inflated appraisal?

How many jobs have to be created and how hard taxpayers have to work in order to fill up the deep hole mortgage fraud has created for the society? Bottom line, where is justice when the largest mortgage lender Wells Fargo is foreclosing home based on fraudulent loan and hugely inflated appraisal. Isn't it prosecutable crime that majority of State Attorney
General's offices are prosecuting?

Where is HOPE for homeowners? Is it too much to expect that Wells Fargo, the largest mortgage lender in US not to defraud homeowners like us by making fraudulent loan and foreclosing home based on hugely inflated appraisal?
www.wellsfargomortgagefraud.com

Posted by: Anonymous | September 10, 2010 4:55 PM | Report abuse

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