Elizabeth Warren, Special Advisor to the Treasury for the CFPB, stated today during a House FinServ hearing that an appointment for a permanent director of the agency is coming “soon.” Ms. Warren took tough questions from House Republicans during the hearing, including on checks and balances in the agency and the CFPB’s role in the mortgage servicing settlement. FinServ Chairman Bachus (R-AL) also introduced legislation today to restructure the CFPB into a bipartisan commission of five members. This report analyzes today’s session.
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