Warren Defends Consumer Financial Protection Bureau

Law360, New York (March 16, 2011, 4:38 PM EDT) -- Elizabeth Warren, the White House adviser setting up the controversial U.S. Consumer Financial Protection Bureau, defended the nascent agency Wednesday against Republican attacks that it wields too much power, faces too little oversight and has already overstepped its authority.

In her first congressional appearance since taking the post, Warren refused to concede to wide-ranging critiques lobbed by Republican lawmakers, calling the new agency the "most constrained and accountable" financial regulator and a crucial defender against the types of abuses that drove the mortgage meltdown and resulting...
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