BU Now » consumer financial “watchdog” http://blogs.bu.edu/bunow News, information and research from Boston University Wed, 21 Sep 2011 18:14:24 +0000 en hourly 1 http://wordpress.org/?v=3.1.4 Obama to name Warren to new post http://blogs.bu.edu/bunow/2010/09/17/obama-to-name-warren-to-new-post/ http://blogs.bu.edu/bunow/2010/09/17/obama-to-name-warren-to-new-post/#comments Fri, 17 Sep 2010 13:12:21 +0000 Jo Breiner http://blogs.bu.edu/bunow/?p=6873 President Obama will name Elizabeth Warren as a White House advisor to oversee creation of the new Consumer Financial Protection Bureau. Law professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law, expresses his opinion on the appointment.

“It is regrettable that President Obama has chosen to launch the new Consumer Financial Protection Bureau, a law enforcement agency, by end-running the U.S. Senate and the very law that created the agency. This is not an auspicious beginning.”

Contact Cornelius Hurley, 617-353-5427, ckhurley@bu.edu, or on Twitter @ckhurley

]]> http://blogs.bu.edu/bunow/2010/09/17/obama-to-name-warren-to-new-post/feed/ 0 The consumer “watchdog” fight http://blogs.bu.edu/bunow/2010/07/20/the-consumer-watchdog-fight/ http://blogs.bu.edu/bunow/2010/07/20/the-consumer-watchdog-fight/#comments Tue, 20 Jul 2010 16:30:07 +0000 Dick Taffe http://blogs.bu.edu/bunow/?p=6425 walletA battle is brewing over who President Obama should nominate as the new consumer “watchdog” under the new financial regulatory reform law after he signs it.  Consumer advocates and activist groups are pressing him to tap outspoken Harvard Law Professor Elizabeth Warren, who now chairs the congressional panel overseeing the federal bailout of the nation’s banks.  Others feel she may not be able to get confirmed by the Senate.  BU Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Federal Reserve Board of Governors, notes that the new Bureau of Consumer Financial Protection will be a massive managerial undertaking with a $500 million budget and hundreds of employees.

“Its head should be someone who, in addition to sound policy instincts, has a proven record of managerial accomplishment.  A polarizing choice will dim the chances of the bureau carrying out its mission effectively.”

Contact Cornelius Hurley, 617-353-5427, ckhurley@bu.edu

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