Consumer advocate Warren visits W.House again

WASHINGTON, Sept 9 (BestGrowthStock) – Elizabeth Warren, a leading
candidate to become the top U.S. consumer financial regulator,
paid a visit to the White House on Tuesday, an administration
official said on Thursday.

It was the second time within a few weeks that Warren has
met at the White House with senior officials but President
Barack Obama still has made no decision on who to name as
director of the Consumer Financial Protection Bureau.

The White House has said Warren, a Harvard University law
professor who is credited with conceiving the idea for the
agency, is a strong candidate, although others also are under
consideration. Known as a strong advocate for consumer
protection, Warren is a hero to liberal activists and consumer
groups but is opposed by many on Wall Street who fear she could
hurt profits on products like credit cards and stifle their
competitiveness.

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

Obama is expected to announce his choice as early as this
week.

The director of the new CFPB, seen as a powerful watchdog
to oversee consumer issues from mortgages to credit cards, must
be confirmed by the U.S. Senate.

That could be difficult to achieve soon, with Congress only
expected to be in session for about a month starting next week
before members head home for the Nov. 2 elections.
(Reporting by Caren Bohan, writing by Patricia Zengerle;
editing by Bill Trott)

Consumer advocate Warren visits W.House again