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Released: August 13, 2010

Elizabeth Warren: poised to become borrower’s best friend

Source: Brady Dennis, Washington Post (Free Registration)

Somewhere along the line, Elizabeth Warren became a symbol.

She’s either the plain-spoken, supremely smart crusader for middle-class families that her supporters adore, or she’s the power-hungry headline seeker her critics loathe, a fiery zealot disguised in professorial glasses and pastel cardigans.

But no one disputes that she’s the most prominent and polarizing candidate to lead the new Bureau of Consumer Financial Protection. The idea for an independent federal agency to protect ordinary borrowers from abuses by lenders was largely Warren’s idea, and Congress made it a reality as part of the legislation adopted last month to overhaul financial regulations. The bureau’s director will be the most powerful new banking regulator in decades and the first with the exclusive mission of focusing on consumers.

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