DeLauro Praises Warren as Choice for Consumer Financial Protection Bureau Position

Washington, DC –Congresswoman Rosa L. DeLauro (CT-3) issued the following statement in response to President Obama's announcement naming Elizabeth Warren as the Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau.

"I applaud the President's choice of Elizabeth Warren to get the new Consumer Financial Protection Bureau up and running. Elizabeth Warren has proven herself as a tough-minded leader who understands what is necessary to restore the principles of transparency and accountability that will enable American businesses and our economy to thrive.

"Elizabeth Warren has called for a strong consumer protection agency since 2007 and long-ago began sounding the alarm about predatory lending and the risky, and ultimately disastrous, games banks were playing in the mortgage market. She has never been content with conventional wisdom, digging deeper and exposing what our leading financial experts missed.

"Elizabeth Warren is key to the firm establishment of a serious regulatory regime, protecting consumers from the greed and excess that was the downfall of our economy. She saw the need for this new Bureau, brought the idea to our attention, and has helped to make it a reality. I am proud to have, along with many of my colleagues, advocated for Elizabeth Warren, and I look forward to her work in making the Consumer Financial Protection Bureau a strong and fair regulatory agency that will protect American families."