Warren Says Consumer Bureau Foes Should Look at Bank ‘Behemoths’

Elizabeth Warren, the Obama administration adviser assigned to set up the Consumer Financial Protection Bureau, said lawmakers looking to limit the agency’s authority should focus instead on the Wall Street “behemoths” aiming to undermine its mission.

“If we’re going to go out there and spill ink on accountability, we should also ask about how to hold powerful financial institutions accountable,” Warren said yesterday in an interview with Bloomberg News. “The idea that we should be worried that some agency that will speak up for consumers might get a little too loud is looking in the wrong direction.”