A group of 89 House members – including all but two from the Bay Area’s delegation – wrote to President Obama today urging him to make a recess appointment of Elizabeth Warren to head the Consumer Financial Protection Bureau.
Congressional Progressive Caucus Co-Chairs Keith Ellison, D-Minn., and Raúl Grijalva, D-Ariz., held a news conference today on Capitol Hill to announce the letter as well as a petition with 250,000 signatures, collected by Progressive Change Campaign Committee and CREDO Action through online campaigns.
“Elizabeth Warren has proved to be an effective fighter who puts America first by working to protect the middle-class,” Ellison said. “Professor Warren knows that our future prosperity depends upon working for the economic interests of the overwhelming majority of our citizens. Elizabeth Warren needs to be confirmed without further delay.”
Grijalva said Warren is worth fighting for, even if it has to be a recess appointment. “Whoever heads the Consumer Financial Protection Bureau will be the strongest consumer watchdog in the country. That’s not a position where you can settle for second best. Elizabeth Warren is honest, you can’t question her credentials, and she’s a true advocate for families and consumers’ interests. I strongly support her and hope to see her on the job as soon as possible.”
The only Bay Area members who didn’t sign the letter are House Minority Leader Nancy Pelosi, D-San Francisco, and Rep. Jerry McNerney, D-Pleasanton.
U.S. Senate Minority Leader Mitch McConnell, R-Ky., explained the GOP’s opposition to confirming Warren’s appointment on “Meet the Press” this past Sunday:
Well, we’re pretty unenthusiastic about the possibility of Elizabeth Warren. We’re pretty unenthusiastic, frankly, about this new agency, and we’ve sent a letter to the president saying that some changes need to made—be made in the CFPB, the Consumer Financial Protection Board, because as it’s currently constituted, it answers to no one and, I think, could be a serious threat to our financial system.
The CFPB was created under last year’s Dodd-Frank financial reforms to ensure that consumers have the full, clear and complete information they need to choose the financial products and services — including credit cards, student loans and mortgages — that are best for them.
Read the full text of the letter, after the jump…