Sources have conveyed to FDL News that Elizabeth Warren, assistant to the President and counselor to the Treasury Secretary for consumer financial protection, will head to Columbus, Ohio tomorrow for her first outside-the-Beltway trip, to speak with consumer and housing groups about the credit markets and the new role of the CFPB.
The trip in and of itself doesn’t seem like much. But I’m certainly intrigued by “housing” and “Ohio.” Attorney General Richard Cordray issued the first lawsuit against a mortgage servicer for fraud and violation of consumer protection laws. In addition, Secretary of State Jennifer Brunner was instrumental in getting the White House to veto a bill that may have made it more difficult for borrowers and their attorneys to challenge foreclosure documents in court (by the way, Robert Gibbs mentioned at the time that Warren had a meeting with the President the day before he vetoed that bill). Those offices are both based in Columbus, the state capital. The event won’t be public, but some local press will attend.
Warren has only been part of the Administration for about a month, yet she has been a ubiquitous presence on television and in print, arguing for her vision of consumer financial protection. We’re now on the precipice of another major crisis affecting the credit markets, where corporate interests clearly are taking advantage of consumers (as well as investors), often through outright fraud. So Warren goes… right to the belly of the beast to gather more information in discussion with consumer credit and housing non-profits?
Could be nothing. Could be a sign of the Administration looking more deeply into the matter…
UPDATE: The official release:
ELIZABETH WARREN TO ADDRESS CONSUMER ROUNDTABLE DISCUSSION THURSDAY IN COLUMBUS, OHIO
WASHINGTON – Thursday, October 14, Elizabeth Warren will travel to Columbus, OH, as part of her early outreach efforts to American families, the financial services industry and consumer advocates to listen and learn from their experiences on the ground as she leads the effort to stand up the new Consumer Financial Protection Bureau. Warren will join a roundtable discussion of consumer advocates hosted by COHHIO, Americans for Financial Reform, and Policy Matters on the challenges facing American families navigating a broken consumer credit market and solicit ideas for using the CFPB to level the playing field in consumer credit.
Warren will be available to members of the media for a 15 minute question and answer session. Her opening remarks to the roundtable will be open to the press. The remainder of the event is closed press and the event is closed to the public.



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I would love to think that Elizabeth Warren has really hit the ground running, but given what has been the usual pattern under this administration, I’m reserving my conclusions until we receive more evidence.
“Warren will be available to members of the media for a 15 minute question and answer session. Her opening remarks to the roundtable will be open to the press. The remainder of the event is closed press and the event is closed to the public.”
Ominous.
I think this is a most difficult area and she cannot do this alone, smart as she is. If she is to be effective she really needs something like a team of auditors to understand the process (system) and the paperwork flow and then test it out to see if the paper (notes) are where they are supposed to be. Anecdotal evidence is nice but the banks will kill her with that. She needs facts, just facts, not so much opinion.
Correct me please if I’m wrong, but whatever do-gooding E.W. may or may not do as policy, does she have broad enforcement powers, and a budget to hire enough regulators to make any difference?
The current Wall Street fiasco is corruption, not the absence of regulation. So, who regulates the regulators? SEC and Mary Shapiro is a prime example of corruption.
Damned if I know but if she cannot hire people to help her at least ferret out the problems then the job is worthless.
I think this is a most difficult place for her who wears cheap vikings jersey to do it and she cannot do this alone, smart as she is. If she is to be effective she really needs something like a team of auditors to understand the process (system) and the paperwork flow and then test it out to see if the paper (notes) are where they are supposed to be. Anecdotal evidence is nice but the banks will kill her with that. She needs facts, just facts, not so much opinion.
Nader – Warren 2012 (You heard it here first)
Enough Obamababble! FED Foreclosure MORATORIUM, instead; or else foreclose on the Obamavilla at the Casa Blanca buck stop NLT 2012.
I saw her on Fox News today. She looked great, and she deflected Neil Cavuto’s (sp?) class baiting. She had him eating out the palm of her hand and singing her praises.
I believe Attorney General Richard Cordray has a lead role in the fifty state AG action. It would be somewhat logical to assume Ms. Warren would want to meet with him.
If this is the WH using Ms. Warren to convey Geithner’s message that he wants this whole problem “to just go away”, then I’m hoping against hope that Ms. Warren told the Treasury Sec. to go pound sand.
Have you noticed that all 50 state AG’s have now signed onto an investigation into foreclosure fraud. How did that happen so quickly? Even hard core Republicans mind you. So who is actually doing the investigation. I think it is safe to assume they have now all been herded into a pen and can be well managed and controlled.
They have covered their asses politically and now will be lectured how it’s important for everyone to stand back, stay out of court, and let the big boys handle this carefully so that the entire system doesn’t collapse. Hints will be made that their picture could appear in history books about the collapse of the TBTF banks, sort of like Mrs. O’Leary and her cow. Who wants that? Stay out of court. Oh, I said that.
One single case, one bit of discovery, and thousands of cases could flood the courts and paralyze them, for years maybe. This is serious business. Too serious for any little state AG to handle all on their little own.
Liz could lose ALL her credibility with one sentence.
I’ll second the first half of that ticket, and withhold endorsing the second for a while.
“In a sworn deposition, which will certainly lead to a foreclosure halt by Warren Buffett’s pet bank, and confirmation that WFC was merely lying like everyone else on Wall Street, the Financial Times has obtained legal documents that prove Wells was merely one of many. Per the FT: “Legal documents obtained by the Financial Times suggest that Wells Fargo, the second-largest US mortgage servicer, also used a “robo signer”. Unlike its rivals, Wells Fargo has not halted foreclosures. The San Francisco-based bank said on Tuesday it was reviewing some pending cases, but it has maintained that it has checks and balances designed to prevent serious procedural lapses.” Now that Wells’ checks and balances end up neither checking nor balancing, perhaps it is time for Charlie Munger to tell the shareholders of Wells to “suck it in”, as the bank is about to be faced with a rather simple dilemma: beg for TARP 2 (and confirm that Munger, and his partner, are nothing but a bunch of pathetic senile hypocrites) and thus more taxpayer bailouts, or see a huge portion of its shareholder value (and thus Charlie Munger’s precious, precious money) about to be wiped out.”
It’s class warfare, both Buffett and Soros belong to the other class.
I must say that I’m glad she’s around. This crisis must have her nodding her head in sad recognition.
KarenM…..I am with you.
This WH has no credibility or integrity on doing the right thing.
By the time this guy(Obama) is out of office,he would have set back progressive agenda another 15 yrs.Many of us would not see any betterment in our lifetime.
Someone,folks are not grasping the gravity of damage he is inflicting on progressives….And the union leadership is part of the problem,just think if the unions or MoveON had confronted the WH…instead they were most interested in WH party invitations.
It’s like the corporate progressives on MSNBC,Rachel Maddow & Olberman….they have no credibility either these are the same people who were night after night howling about Bush spying on US & the endless funding of the wars…..well those same things are happening now & nary a word of protestation from ‘em.
That’s that subtle British humor, innit?
assistant to the President and counselor to the Treasury Secretary goes to Ohio-
Meanwhile President says he does not need Democrats in Congress because he is into implementing those new laws and plans no new initiatives. Damn good thing those 430 bills passed by the House were not passed by the Senate or Obama would have way too much to implement. Just think of the stress setting up a public option would cause our poor President.
With that attitude just why is he bothering to do a campaign swing though a dozen states this months?
She’s teaching a course on contracts at Harvard Law School this semester and next. Why not offer her students a window on the world and invite them on a field trip to pitch in? They could help out, like young American lawyers did at the Nuremberg trials.
RIGHT-ON!
Its not about bowing and scraping to the office, and blind obedient support, if we are to ever get PEACE, HUMAN RIGHTS, Fair Credit Rights, Honest Environmental Policy, Forward Looking Energy Policy and Gender Pay Equity we must hold THIS or ANY ADMINISTRATION, RESPONSIBLE for upholding our values and Implementing our policies.
I gave up blind obedience about 12 centuries ago, so don’t ask and I won’t tell. If the progressives are ever again (since FDR) to hope to get progressive policies implemented, we must keep up the pressure. Call it inexcusable. CALL ME RETARDED, CALL ME BACKWARD CALL ME A HALLUCINATING FOOL.
I care not a whit, what the Obama-aparatchiks call me, because as far as I’m concerned, support for this betraying administration is “OFF-THE-TABLE” until I see, a PEACE POLICY not just a WAR-GROWTH POLICY. Until I see a policy that is as concerned about progressive issues as they are about Breitbart’s latest press-parlay.
We must stop bombing Afghanistan, stop bombing Iraq, Pakistan, close Guantanamo, End Torture, stop interfering with governments in South America. We need more than lip-service on Environmental and Energy Policy. End the coverup of the long term poisoning of the GULF.
Dance with them that brung ya, Obamanauts!
Oops that’s why you protected BP and the Wall Street Banksters. What was I thinking. Call me names, but implement progressive policies, or forget about my VOTE!
Does anyone know how to contact Elizabeth Warren?