Rep. Fattah: Elizabeth Warren Will Be the Best Friend Financial Services Consumers Have Ever Had

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Sep 17, 2010, 02:04 ET

WASHINGTON, Sept. 17 /PRNewswire-USNewswire/ -- Congressman Chaka Fattah (D-PA), Chairman of the Congressional Urban Caucus and Pennsylvania's senior member on the House Appropriations Committee, issues the following statement upon the appointment of Elizabeth Warren as special advisor for the new Consumer Financial Protection Bureau:

"Professor Elizabeth Warren has served with distinction as director of the Troubled Asset Relief Program, and she is the visionary who created the concept of the Consumer Financial Protection Bureau. Now she has our congratulations for her appointment by the President to oversee and design this important new bureau.

"As the author of the Emergency Homeowners' Relief Fund in the Dodd-Frank Wall Street Reform and Consumer Protection Act that has created the Consumer Financial Protection Bureau, I am particularly encouraged to see Professor Warren in a position to oversee meaningful mortgage reform that will hold lenders and mortgage brokers accountable for engaging in irresponsible lending practices, protecting mortgage holders – especially, borrowers facing foreclosure.

"Elizabeth Warren will be the best friend that struggling and middle class American consumers of financial services have ever had. President Obama deserves our thanks for this bold appointment that puts her to work immediately in this critical task."

www.fattah.house.gov

SOURCE Office of Congressman Chaka Fattah