Warren Says Consumer Agency Will Have ‘Teeth’ to Fix Credit

Elizabeth Warren, the Harvard University professor credited with conceiving the consumer financial-protection regulator, said the agency included in the Wall Street rules overhaul will have “a lot of teeth.”

The agency, which will combine consumer watchdogs from several regulators into a central bureau at the Treasury Department, may change the way credit cards, mortgages and other debt are sold, Warren said today in an interview on Bloomberg Television’s “In the Loop with Betty Liu.”