House Hearing Showcases the Need for a Strong Independent Consumer-Oriented Leader to Monitor the Financial Industry

Washington, DC – Commenting on the House Oversight Hearing on the Consumer Financial Protection Bureau Campaign for America’s Future’s Fellow Richard Eskow said, “From what we have heard at today’s hearing, it’s clear that Elizabeth Warren is a champion of the American consumer -- and that Congressional Republicans, doing the banking industry’s dirty work, will try any low-rent tactic to protect Wall Street bankers.”

If Republicans continue to refuse to give any nominee a fair hearing, Eskow said, “President Obama has the constitutional authority and a civic duty to initiate a recess appointment of Ms. Warren to the Consumer Financial Protection Bureau as soon as possible.”

Eskow said, “Who is asking Chairman McHenry to rough up Elizabeth Warren? Chairman McHenry’s contributors include Wells Fargo, Bank of America, and the American Bankers Association. This hearing showcased that Elizabeth Warren is qualified and capable and the only people objecting to her are people who are doing the dirty work for the financial industry, the very industry that drove the economy off a cliff.”

15,000 Americans have already asked the President to appoint Elizabeth Warren to be the head of the CFPB during recess. Join them: www.ourfuture.org/warren.