Warren departs CFPB as Date takes over
Thursday 28 July 2011 - by Nicola York
The US Treasury has announced that Elizabeth Warren will be replaced by Raj Date as special adviser on the Consumer Financial Protection Bureau.
Treasury secretary Tim Geithner praised Warren for the "extraordinary job standing up the Consumer Financial Protection Bureau".
"Her efforts to simplify mortgage and credit card disclosures, protect military families from abusive and deceptive financial practices, and bring aboard top talent like Richard Cordray and Raj Date have built a strong foundation for the Bureau's future success," he said on Wednesday.
Last year, President Obama signed into law the Dodd Frank Wall Street Reform and Consumer Protection Act, which included the strongest consumer protections in American history.
The Act created the CFPB, an agency with the primary mission of acting as a dedicated watchdog for American consumers. The CFPB helps ensure that consumers have the information they need to make the financial choices that are best for them and works to prevent abusive and deceptive financial practices.
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