September 17, 2010


WASHINGTON – Today Senate Banking Committee Chairman Chris Dodd (D-CT) made the following statement on President Obama naming Elizabeth Warren as Assistant to the President and Special Advisor to the Treasury Secretary on the Consumer Financial Protection Bureau.
“I spoke with Elizabeth Warren this morning and congratulated her on her appointment to the President's staff. Ms. Warren has proven to be a strong, qualified, and terrific watchdog and I have no doubt her advice will help move this important new bureau forward to make sure American consumers are protected from hidden fees, abusive terms, and deceptive practices.”
“At the same time, it is crucial that President Obama move swiftly to nominate a Director of the Consumer Financial Protection Bureau to be considered by the Senate, as the law requires.  Until a Director is at the helm, this new bureau will not have the teeth that it needs to put strong protections in place, and could leave the entire bureau in jeopardy."
"Ms. Warren and I share the same goal of getting this vital advocate for consumers up and running quickly, and she pledged to me that she would work closely with the Senate Banking Committee and the Bureau's first director to get it done."