Warren Gets White House Meeting, but No Decision on Nomination

Posted August 12, 2010 at 7:21pm

White House officials met Thursday afternoon with Elizabeth Warren — liberals’ choice to lead the newly created Consumer Financial Protection Bureau — although no decision was made on whether she will get the post, a White House aide confirmed.

“The president believes that Elizabeth Warren is a champion for middle class families and consumers and she, among others, is a strong contender for this position,” White House spokeswoman Amy Brundage said in a statement. “The president has not yet made a decision and no announcement is imminent.”

According to NBC News, Warren met with senior White House advisers David Axelrod and Valerie Jarrett and discussed, among other things, the possibility of her overseeing the new federal agency charged with policing the loans that banks sell to individuals. President Barack Obama was not at the meeting.

Liberals have rallied hard for Warren to get the position after her tough questioning of Treasury Secretary Timothy Geithner during hearings before the Troubled Asset Relief Program oversight panel Warren chairs, along with Warren’s criticism of big Wall Street banks. She is also widely credited with coming up with the idea for the consumer agency in financial regulatory reform legislation.

For his part, Geithner has tried to defuse reports that he wanted to sabotage Warren’s chances for the job because of her criticism of large Wall Street firms. During a Christian Science Monitor breakfast last month, Geithner praised her effusively and said she would be “a very strong leader” of the bureau.

“She is one of the most effective advocates for reform in the country,” Geithner said, adding that Warren early on saw the problems in financial markets. “She was ahead of most of the country.”