Teamsters Welcome Elizabeth Warren Appointment

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International Brotherhood of Teamsters

Sep 17, 2010, 04:52 ET

Hoffa: She Will Crack Down On Wall Street Abuse Of Middle Class

WASHINGTON, Sept. 17 /PRNewswire-USNewswire/ -- Teamsters General President Jim Hoffa today applauded President Obama for appointing Elizabeth Warren to set up the new Consumer Financial Protection Bureau (CFPB).

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As a special advisor to Treasury Secretary Tim Geithner, Warren's job will be to create an agency that regulates the consumer credit markets for the first time ever.

"Elizabeth Warren has understood for years how the game is rigged against middle-class Americans," Hoffa said. "She believes banks shouldn't be able to rip off people with confusing credit card agreements and mortgage contracts. She's right.

"I'm sure she'll work hard to protect middle-class Americans from the outrageous fees, unfair rate hikes and dishonest language that Wall Street has rammed down their throats for decades."

Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the United States, Canada and Puerto Rico.

SOURCE International Brotherhood of Teamsters