WASHINGTON ― Sen. Elizabeth Warren (D-Mass.) joined President Barack Obama for the White House’s weekly address to tout actions the administration has taken to reform Wall Street and reduce the risk of another financial crisis.
“President Obama delivered. He signed into law the toughest Wall Street reforms and strongest consumer protections in generations. Trust me ― I’m a pretty tough grader,” said Warren, a former professor at Harvard Law School. “These new rules are making our financial system more transparent, getting rid of a lot of fine print, and making sure that if a bank screws up, you have someone to call so you don’t get stuck with the bill.”
Before Warren was elected to the Senate in 2012, she played an essential role in creating the Consumer Financial Protection Bureau, a government consumer advocate. Senate Republicans blocked Warren from heading up the agency.
“Before the Consumer Financial Protection Bureau, you didn’t have a strong ally to turn to if your bank took advantage of you, or you were being harassed or charged inappropriate fees,” Obama said. “Now you do.”
Republicans have repeatedly attacked the agency, trying to limit its budget and create more bureaucracy that would make it more difficult for the agency to act.
Warren appeared with Obama a day after Democratic presumptive nominee Hillary Clinton announced that she would choose Sen. Tim Kaine (D-Va.) as her running mate. Warren was also a contender for the ticket.
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