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by CareyBot

A slew of public advocacy groups, including the National Fair Housing Alliance, applauded President Obama's appointment of Harvard Law professor Elizabeth Warren to lead a new consumer protection agency Friday. Warren is now assistant to the president and special advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau created under the Wall Street Reform and Consumer Protection Act signed in July. She will take on the job of setting up the new bureau by mid-2011, including recruiting staff, initiating policy and helping choose the bureau's first director. The bureau will regulate mortgages, student loans, credit cards, credit scores and other consumer credit products. The consumer watchdog agency was Warren's idea and she is the "best person" to...