Warren Speaks

Elizabeth Warren speaks! Well, she blogs anyway, through the White House’s blog in a post titled “Fighting to Protect Consumers,” Warren talks about the job she’s accepted working to set up the CFPB.

Professor Warren has a reputation for being plainspoken, and yesterday I noted that there was some confusion about what exactly it was that this appointment was going to mean, but Warren seems to be living up to her rep today. She’s going to be setting up the CFPB, she’s going to have the tools she needs to get the job done, and the description of the job doesn’t seemed to have changed much from what she asked for months and months ago:

“President Obama understands the importance of leveling the playing field again for families and creating protections that work not just for the wealthy or connected, but for every American. The new consumer bureau is based on a pretty simple idea:  people ought to be able to read their credit card and mortgage contracts and know the deal.  They shouldn’t learn about an unfair rule or practice only when it bites them—way too late for them to do anything about it.  The new law creates a chance to put a tough cop on the beat and provide real accountability and oversight of the consumer credit market.  The time for hiding tricks and traps in the fine print is over.  This new bureau is based on the simple idea that if the playing field is level and families can see what’s going on, they will have better tools to make better choices.”

She closes by saying simply that it’s time for her to get to work. Sounds good to us.