Warren Worked on Bank Suit While Head of TARP Panel
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Elizabeth Warren, named by President Barack Obama to set up the new consumer finance agency, was paid $90,000 this year to be an expert witness in a class-action lawsuit against some of the biggest U.S. banks.
Warren, who at the time she did the work was head of the Congressional Oversight Panel monitoring the $700 billion bank bailout, was retained by a law firm that represents retailers suing credit-card networks Visa Inc. and MasterCard Inc., and banks including Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co. for alleged antitrust violations in setting card processing rates, her financial disclosure forms show.