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Warren Says Proposed Consumer Bureau Changes Would Aid Banks

Republican lawmakers are doing Wall Street’s bidding by trying to restructure the Consumer Financial Protection Bureau’s funding and leadership, Obama administration adviser Elizabeth Warren said today.

“This is precisely the goal of the forces at work to politicize the CFPB’s funding,” said Warren, the special adviser in charge of setting up the bureau, in remarks at the Society of American Business Editors and Writers conference in Dallas. “If they succeed, the beneficiaries will be some of the same institutions that precipitated the financial crisis.”