WASHINGTON (AP) — The White House says Elizabeth Warren, a leading candidate to lead the new consumer protection agency, met with President Barack Obama Tuesday.
However, White House spokeswoman Amy Brundage says other candidates are still being considered and no decision has been made on who will lead the agency, which was created under terms of the financial overhaul bill Obama signed into law earlier this year. The agency will have vast powers to enforce regulations covering mortgages, credit cards and other financial products.
Warren now heads the Congressional Oversight Panel, which has been a watchdog over the Treasury Department's bank bailout fund. Consumer advocates and labor groups want Obama to nominate Warren, but she has little support within the financial community.
